IIFL Finance will open a public issue of Secured Redeemable Non-Convertible Debentures (NCDs) on 06 January 2023, to raise up to Rs. 1000 crore for the purpose of onward lending, financing, refinancing the existing indebtedness of IIFL Finance (payment of the interest and/or repayment /prepayment of principal of borrowings) and general corporate purposes. The NCDs offer up to 9.00% yield. IIFL Finance will issue secured redeemable NCDs, aggregating to Rs. 100 crore, with a green-shoe option up to Rs. 900 crore amounting to Rs. 1000 crore.

The IIFL NCDs offer effective yield of up to 9.00% 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 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.