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IIFL Finance hits the roof after raising Rs 100 cr from NCDs

Capital Market 

IIFL Finance was locked in an upper circuit of 20% at Rs 112.5 after the company on Tuesday said it has raised Rs 100 crore through issuance of non-convertible debentures on a private placement basis.

The finance committee of the board of directors of the company approved allotment of 1,000 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 Lakh each, aggregating to Rs 100 crore on private placement basis. The coupon rate of NCD is 8% with a tenor of 18 months.

IIFL Finance announce stellar Q2 September 2020 result on 3 November 2020. On a consolidated basis, the company's net profit jumped 148% to Rs 212.59 crore on a 30.3% rise in total income to Rs 1515 crore in Q2 September 2020 over Q2 September 2019.

IIFL Finance offers a wide spectrum of products such as home loan, gold loan, business loan, microfinance, capital market finance and developer & construction finance.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 17 2020. 14:47 IST