IIFL Finance board OKs to raise NCDs worth Rs 700-cr

IIFL Finance said that its board has approved the issuance of non convertible debentures (NCDs) worth Rs 700 crore on private placement basis.

The company will issue 70,000 secured, listed, rated, redeemable NCDs - Series D29 Option C, which includes green shoe option to retain oversubscription up to 27,500 NCDs.

The total issue includes a base issue of Rs 425 crore, with a green shoe option to retain oversubscription up to Rs 275 crore.

These secured, listed, rated, redeemable NCDs will be listed on the National Stock Exchange of India (NSE).

IIFL Finance, a leading retail-focused NBFC in India, offers loans and mortgages through its subsidiaries. With a wide range of products and a vast customer base, they operate across India through branches and digital channels.

The companys consolidated net profit declined 91.7% to Rs 40.70 crore in Q3 FY25 as compared with Rs 490.44 crore in Q3 FY24. Total income fell 9.1% YoY to Rs 2448.97 crore during the quarter ended 31st December 2024.

The counter declined 0.10% to Rs 312.40 on the BSE.

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