INSUBCONTINENT EXCLUSIVE:
The bonds offer a yield of 8.75 per cent per annum for a tenor of 60 months
IIFL
Finance plans to raise Rs 1,000 crore by opening a public issue of secured bond son September 27, aimed at capital augmentation and business
The bonds offer upto 8.5 per cent of yield and high degree of safety, according to a recent statement shared by the non-banking financial
For the purpose, IIFL Finance will issue secured redeemable non-convertible debentures, aggregating to Rs 100 crore, with a
green-shoe option to retain an over-subscription up to Rs 900 crore - aggregating to a total of Rs 1,000 crore.The non convertible
debentures or NCDs are fixed income instruments that are usually offered by high-rated companies in the form of a public issue to gather
long-term capital appreciation.The bonds offer a yield of 8.75 per cent per annum for a tenor of 60 months, and the company will also
offer an incentive of 0.25 per cent per annum for the existing bond or equity share holders, according to IIFL Finance.The debentures are
available in tenors of 24 months, 36 months, and 60 months, as per details of the statement.The company has fixed the frequency of interest
payment is available on a monthly, annual and at maturity basis for 60 months tenor, while for the other tenors - it will available
annually and at the maturity basis
The IIFL bonds would be issued at face value of Rs 1,000 and the minimum application size will be Rs 10,000 across all categories. The
public issue will open on September 27, 2021 and closes on October 18, 2021, with an option of early closure.The allotment will be made on
first come first served basis, and the NCDs will be listed on the BSE and NSE. ''....IIFL Finance caters to the credit need of
The funds raised will be used to meet credit need of more such customers and accelerate our digital process transformation to enable a
frictionless experience,'' said Mr Rajesh Rajak, CFO, IIFL Finance.On Friday, September 24, shares of IIFL Finance were last trading 0.07
per cent lower at Rs 275.10 apiece on the BSE
IIFL Finance opened on the BSE at Rs 274.70, touching an intra day high of Rs 276 and an intra day low of Rs 267.05, in the trading session
so far. IIFL Finance is one of the country's largest retail-focused financial services companies
The company's loan assets under management was Rs 43,160 crore as of June 30, 2021
93 per cent of the loan book is retail - which is focused on the small ticket loans.
