IIFL Finance Launches Rs 500 Crore NCD Issue to Fuel Growth
IIFL Finance Ltd plans to raise Rs 500 crore through a public issue of non-convertible debentures to support growth. The raised funds will be used for lending, refinancing, and general purposes. The issue opens on April 7, 2025, and offers various tenors with an effective yield of 10.24% per annum.
- Country:
- India
IIFL Finance Ltd announced on Friday its intention to raise up to Rs 500 crore through a public issue of secured, rated, listed redeemable non-convertible debentures (NCDs). This move aims to bolster the company's growth efforts.
The funds secured will be utilized for onward lending, refinancing existing debts, and catering to general corporate purposes. This plan signals a strategic financial maneuver to strengthen IIFL Finance's financial landscape.
The NCD issue will be open from April 7 to April 23, 2025, and provides varying investment tenors. Series IX offers a maximum effective yield of 10.24% per annum, with options for interest payment frequency on monthly, annual, or cumulative bases.
(With inputs from agencies.)
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