India Infoline Finance to raise Rs 2000 cr through public issue of NCDs

IIFL Holdings announced that its material subsidiary, India Infoline Finance, will launch a public issue of NCDs on 22 January 2019, to raise up to Rs. 2,000 crore, for the purpose of business growth.

IIFL Finance will issue secured and unsecured redeemable non-convertible debentures (NCDs), aggregating to Rs 250 crore, with a green-shoe option to retain over-subscription up to Rs 1,750 crore (aggregating to a total of Rs 2,000 crore).

The IIFL Finance NCDs offer highest yield of 10.50% p.a. for Individuals and non-institutional category investors, and 10.35% for Institutional category investors, for tenor of 120 months. The NCDs are available in tenors of 39 months with annual/cumulative frequency of interest payments, 60 months with monthly/annual frequency of interest payments and 120 months with monthly/annual frequency of interest payments.

 

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