IIFL Finance gains after board approves Rs 600 cr fundraise via NCDs
IIFL Finance rose 1.83% to Rs 490.55 after the company's board has approved raising funds aggregating to Rs 600 crore through non convertible debentures (NCDs) on a private placement basis.
The funds will be raised through unsecured, subordinated, listed, rated, redeemable non-convertible debentures - series D33.The proposed NCDs will be listed on National Stock Exchange (NSE).
IIFL Finance is one of the leading retail-focused diversified NBFC in India, engaged in the business of loans and mortgages along with its subsidiaries - IIFL Home Finance and IIFL Samasta Finance. The company (along with its subsidiaries), offers a wide-spectrum of products such as home loan, gold loan, business loan, microfinance, capital market finance and developer & construction finance to a vast customer base.
The companys consolidated net profit declined 44.4% to Rs 207.68 crore on 11.2% increase in total income to Rs 2,594.35 crore in Q4 FY25 over Q4 FY24.
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