The issue was offered on first come first served basis with an option of early closure.
IIFL Finance said that its public issue of secured, rated, listed redeemable non-convertible debentures was oversubscribed 4.75 times amounting to ₹475.03 crore by the end of the day on April 9.
Following the overwhelming response, the NBFC has decided to close the issue on April 11, ahead of its proposed date ofclosing of April 23. The issue was offered on first come first served basis with an option of early closure.
Overwhelming response
“We received overwhelming response for our NCD issue based on the strong corporate profile and solid track record of over 25 years,” said Govind Modani, Head of Treasury, IIFL Finance.
The company issued Non-Convertible Debentures (NCDs) up to ₹100 crorebase issue size, with an option to retain over-subscription of up to ₹400 crore aggregating up to ₹500 crore.
The NCDs under Series IX offer the highest effective yield of10.24 per cent per annum for the tenor of 60 months. The NCDs were available in tenors of 15 months, 24 months, 36 months, and 60 months. The frequency of interest payment was available on monthly, annual, and cumulative basis.
The funds raised will be used for the purpose of onward lending, financing/refinancing the existing indebtedness of the company, and/or debt servicing (payment of interest and/or repayment/prepayment of interest and principal of existing borrowings of the company) and general corporate purposes.
The NCDs are rated “Crisil AA/Stable” by Crisil Ratings and “[ICRA] AA (Stable)” by ICRA. The debentures with these ratings are considered to have high degree of safety regarding timely servicing of financial obligations. Such debentures carry very low credit risk.
Published on April 10, 2025
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
