IIFL seeks Sebi approval to raise up to Rs 1,050 cr via NCDs

Proceeds from the issue will be utilised by IIFL for financing activities including lending and investments

Financial services provider India Infoline Finance Ltd (IIFL), has filed draft documents with market regulator Sebi to raise up to Rs 1,050 crore through non-convertible debentures (NCDs).

"Public Issue by IIFL, of secured redeemable NCDs of face value of Rs 1,000 each, aggregating up to Rs 5,250 million, with an option to retain over-subscription up to Rs 5,250 million aggregating to a total of up to Rs 10,500 million," the draft prospectus filed by the company said.

The proceeds from the issue would be utilised by IIFL for financing activities including lending and investments.

Besides, the funds would be used to repay existing loans and funding working capital requirements.

The lead managers to the issue are -- Axis Capital, India Infoline, Trust Investment Advisors, IDBI Capital Market Services, RR Investors Capital Services, Karvy Investor Services and SMC Capitals.

Link Intime India, is the registrar to the issue.

The NCDs offered are proposed to be listed on the National Stock Exchange (NSE) and BSE, the draft documents said.

IIFL is engaged in the business of mortgage financing, loan against securities, gold loans, margin funding and other consumer financing products.