IIFL Finance Limited has informed the Exchange regarding allotment of Perpetual Debt Instruments on Private Placement basis
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IIFL Finance Limited has allotted 100 perpetual, unsecured, listed, rated debentures (NCDs) worth INR 100 crore on private placement basis. Each debenture has a face value of INR 1 crore, carrying a coupon rate of 9.90% per annum. The instruments are perpetual in nature with no fixed maturity date, though the company has a call option after 10 years subject to RBI approval. Interest payments are scheduled annually from May 29, 2027. The debentures will be listed on the National Stock Exchange. This is Tier 2 capital raising by the NBFC, which helps strengthen its capital adequacy buffer.
The issuance is debt capital (not equity) and strengthens IIFL Finance's capital position as an NBFC. It has no direct impact on equity shareholders but indicates the company's ability to raise funds from bond markets. The 9.90% coupon rate reflects market borrowing costs for the company.