IIFL Samasta Finance Launches Rs 1,000 Crore Bond Issue for Capital Augmentation

IIFL Samasta Finance, a non-banking microfinance company, plans to raise up to Rs 1,000 crore through secured bonds aimed at capital augmentation and business growth. The bond issue opens on June 3 and closes on June 14. Raised funds will meet credit demand and bolster business growth.

IIFL Samasta Finance, a non-banking microfinance institution (NBFC-MFI), announced its intention to raise up to Rs 1,000 crore through a public issue of secured bonds. The purpose of the fund-raising exercise is to augment capital and fuel business growth.

The bond issue will open on June 3 and close on June 14, as stated by IIFL Samasta Finance. The company aims to issue bonds worth Rs 200 crore, with an option to retain an over-subscription of up to Rs 800 crore.

IIFL Samasta bonds are offering a maximum coupon rate of 10.50% per annum for a tenor of 60 months. Available tenors include 24 months, 36 months, and 60 months, with interest payments available on both monthly and annual frequencies. According to Venkatesh N, MD and CEO of IIFL Samasta Finance, the company will use the raised funds to meet the growing credit demand and support business expansion, especially targeting underserved women entrepreneurs. The company reported a net profit of Rs 503 crore for FY 2023-24, with loan assets under management increasing by 34.67% to Rs 14,211 crore.

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