IIFL Finance has launched a public issue of secured redeemable non-convertible debentures (NCDs) aggregating to Rs 100 crore, with a green-shoe option up to Rs 900 crore, amounting to Rs 1000 crore. The public issue opened on 6 January 2023 and it will close on 18 January 2023, with an option of early closure.

The IIFL NCDs will be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 (10 NCD) and in multiple of Rs 1,000 (1 NCD) thereafter, across all categories. The NCDs will be listed on the BSE and National Stock Exchange of India.

The IIFL NCDs offer effective yield of up to 9% per annum for tenor of 60 months. The NCDs are available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly, annual and cumulative basis for 60 months tenor, while for 24 months and 36 months it is available on annual and cumulative basis.

The company will utilise the proceeds for onward lending, financing, refinancing the existing indebtedness of IIFL Finance and general corporate purposes.

The credit rating has been "CRISIL AA/Stable" by CRISIL and "[ICRA] AA(stable)" by ICRA, which indicates that the instruments are considered to have a high degree of safety for timely servicing of financial obligations and carry very low credit risk.

IIFL Finance's consolidated loan assets under management is Rs 55302.08 crore as on 30 September 2022.

IIFL Finance has consistently maintained low level of NPAs over the years of operations and continues to focus on good quality of assets with gross NPA of 2.42% and Net NPA of 1.22%. Additionally, as on 30 September 2022, 84.30% of the company's consolidated loan book is secured with adequate collaterals which helps to mitigate risks further.

IIFL Finance is a systematically important non-deposit accepting non-banking financial company registered with Reserve Bank of India, catering to the credit needs of diverse customer base with plethora of products. IIFL Finance's offerings include home loans, gold loans, business loans including loans against property and medium and small enterprise financing, microfinance, construction and real estate finance and capital market finance; catering to both retail and corporate clients. Subsidiaries of the company are IIFL Home Finance, IIFL Samasta Finance (Formerly known as Samasta Microfinance), IIHFL Sales and IIFL Open Fintech.