IIFL to raise Rs 2,000 crore via public issue of bonds starting Jan 22

The bonds will have a call option, which means the management can buy back the bonds, if they wish to, after a specific period

India Infoline Finance (IIFL) plans to raise up to Rs 2,000 crore through public issue of bonds, opening on January 22 and running for a month. The base issue would be for Rs 250 crore, with an option to retain oversubscription of Rs 1,750 crore, the firm said in a filing with exchanges. The face value of the bonds would be Rs 1,000 each and will have a tenor of 39 months to 10 years. Bonds up to five years would be secured, attracting coupons between 9.50 per cent and 10 per cent, while the unsecured bonds maturing in 10