Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    360 ONE acquires Mumbai Angels; announces two new funds with them

    January 23, 2023

    Kotak General Insurance partners with Clootrack to enhance customer centricity

    January 23, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » IIFL Finance to raise up to Rs. 1,000 crore via secured bonds, offers up to 8.75%
    NBFC

    IIFL Finance to raise up to Rs. 1,000 crore via secured bonds, offers up to 8.75%

    September 28, 20212 Mins ReadBy Chief Editor
    Twitter LinkedIn WhatsApp

    The proposed fundraise is for business growth and capital augmentation.

    One of India’s leading non-banking finance company, India Infoline Finance Limited (IIFL) will open a public issue of secured bonds on September 27, 2021 to raise up to Rs 1,000 crore to strengthen business growth and capital augmentation.

    The bonds offer up to 8.75 percent yield.

    Fairfax-backed IIFL is going to issue secured redeemable non-convertible debentures (NCFs) aggregating to Rs 100 crore with a green shoe option to retain over-subscription up to Rs 900 crore aggregating to a total of Rs 1,000 crore.

    IIFL in a release said, “The IIFL bonds offer highest effective yield of 8.75% per annum for tenor of 60 months. The company will also offer an incentive of 0.25% p.a for existing bond or equity share holders of the company. The NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly, annual and at maturity basis for 60 months tenor, while for other tenors it is available on annually and at maturity basis.”

    Rajesh Rajak, CFO, IIFL Finance said, “Through a strong physical presence of over 2500 branches across India and a well-diversified retail portfolio, IIFL Finance caters to the credit need of underserved population. 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.” 

    He added, “IIFL 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.” 

    IIFL Finance is a retail focused financial services companies and its assets under management is Rs 43,160 crore as on June 30, 2021. Further, 93 percent of its book is retail focused on small ticket loans.

    It’s gross NPAs are at 2.21 percent and net NPAs at 1.02 percent.

    IIFL said, “The Bonds would be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 across all categories. The public issue opens 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.”

    IIFL Finance NBFC NCD
    Previous ArticleICICI Home Finance aims to recruit 600 employees by December 2021
    Next Article IIFL Home Finance ties-up with Punjab National Bank for co-lending agreement
    Chief Editor

    Related Posts

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022

    Leave A Reply Cancel Reply

    Recent Posts

    • PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
    • 360 ONE acquires Mumbai Angels; announces two new funds with them
    • Kotak General Insurance partners with Clootrack to enhance customer centricity
    • Upstox partners with ‘Trading View’ to empower traders with simplicity
    • AU Small Finance Bank introduces menstrual leaves for women employees

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022
    New Policy
    Policy

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 20220By Bfsinxt Desk

    The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022

    RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System

    October 8, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.