IIFL Finance Limited has informed the Exchange regarding allotment of Non-Convertible Debentures on Private Placement basis
IIFL · price
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IIFL Finance has allotted 50,000 Senior, Secured, Listed, Rated, Redeemable Non-Convertible Debentures (Series D36) on a private placement basis, aggregating to INR 500 crores. Each NCD has a face value of INR 1 lakh, carries an annual coupon of 8.60%, and has a tenure of 379 days, maturing on March 24, 2027. Both interest and principal are payable at maturity (bullet repayment). The NCDs are secured by a first-ranking pari passu charge over the company's standard, performing book debts and loans (including gold loans, MSME, real estate, and capital market loans) and will be listed on NSE.
This INR 500 crore NCD raise strengthens IIFL Finance's borrowing mix with short-term, secured funding at a competitive 8.60% rate. For shareholders, the dilution risk is nil (these are debt instruments, not equity), and the cost of borrowing appears reasonable for an NBFC, though it adds to overall leverage.