Smallcap NBFC to raise ₹500 crore via public issue of NCDs at 10.24% PA effective yield; stock gains 8% in one month | Stock Market News

IIFL Finance , which is a non-banking financial company (NBFC), today said that it will raise up to ₹500 crores through a public issue of secured, rated, listed redeemable non-convertible debentures (“NCDs”).

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 our Company) and general corporate purposes.

The NCDs are rated “Crisil AA/Stable” by Crisil Ratings Limited and “[ICRA] AA (Stable)” by ICRA Limited. 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.

The issue opens on Monday, April 7, 2025 and closes on Wednesday, April 23, 2025. IIFL Finance will issue NCDs up to ₹100 crore (“Base Issue Size”), with an option to retain over-subscription of up to ₹400 crore (“Green Shoe Option”) aggregating up to ₹500 crore.

The NCDs under Series IX offer highest effective yield of 10.24% per annum for the tenor of 60 months@. The NCDs are available in tenors of 15 months, 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly, annual and cumulative basis