IIFL Finance plans to raise up to Rs 500 crore via NCD
IIFL Finance Ltd announced on Friday that it will raise to Rs 500 crore through a public offering of secured, graded, and listed redeemable non-convertible debentures (NCDs) to finance development. IIFL Finance stated that the cash collected will be utilized for onward lending, financing/refinancing the company’s current debt, and general business reasons. The NCDs in Series IX have the greatest effective return of 10.24 percent per year for a 60-month term.
The NCDs are offered in tenors of 15 months, 24 months, 36 months, and 60 months, with interest payments payable monthly, annually, and cumulatively.
