IIFL FINANCE TO RAISE UP TO Rs.1500 CRORES VIA SECURED REDEEMABLE NCD'S. OFFER EFFECTIVE YIELD OF 9% PER ANNUM FOR TENOR OF 60 MONTHS.

IIFL Finance, One of India's largest NBFC's coming out with a public Issue of Secured Bonds on June,9th,2023  (Today) for the purpose of  business growth and capital augmentation.The Bonds offer upto 9% yield .The Public Issue opens on June,9th,2023 and closes on June,22,2023 with an option of early closure. The allotment will be made on first come first served basis.The Face value is Rs.1000. 

IIFL finance will issue secured redeemable non convertible debentures (NCD's),aggregating to Rs.300 crores with a green shoe option to retain oversubscription of upto Rs.1200 crores aggregating to a total of Rs.1500 crores.The NCD is available in Tenors of 24 months,36 months & 60 months.The frequency of interest payment is available on annual,at maturity basis and with monthly option for 60 months tenure. The credit rating has been AA/stable by CRISIL rating and AA/Stable by ICRA which indicates that the investments are considered to have a high degree of safety for timely servicing of financial obligations and carry very low credit risk.In Q4 FY 23,Moody's upgraded IIFL Finance's rating from B2 to B1 (Stable).

Mr.Kapish Jain,IIFL Finance's Group CFO said," IIFL Finance has an impeccable track record of more than 25 years and all the bond issues and the debt obligations have always been paid on time".

In FY 2023,IIFL Finance reported a profit after Tax of Rs.1607 crores with a robust return on equity of 19.9 % ..The Gross NPA is 1.8% and net NPA is 1.1%. The Lead managers to the Issue are: Edelweiss Financial
Services Ltd,IIFL Securities Ltd.,Equirus Capital Private Ltd., and Trust Investment Advisors Private Limited.The NCD's will be listed on BSE and NSE .