The bonds, which closes for subscription on 15 December 2023, propose to offer the highest coupon rate of 10.50% per annum for a tenor of 60 months. NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly and annual basis for each of the series.

The minimum bid quantity is Rs 10,000 (10 NCDs) across all series and in multiples of Rs 1,000 thereafter.

The fund raised through the public issue of non convertible debentures (NCDs) would be utlised for the purpose of business growth and capital augmentation. "At least 75% of the net proceeds are proposed to be financed for the purpose of onward lending, financing/refinancing the existing indebtedness of the company, and/or debt servicing (payment of interest and/or repayment/prepayment of interest and principal of existing borrowings of the Company) and the balance for general corporate purposes," the company said.

The credit rating for these bonds is 'CRISIL AA-/Positive' by CRISIL Ratings and 'Acuite AA Stable' by Acuite Ratings and Research.

IIFL Samasta Finance is a significant non-banking finance institution in India, particularly focused on providing financial products to women enrolled as members in Joint Liability Groups from unbanked sections of society. It is a subsidiary of IIFL Finance and offers a variety of loans tailored for underserved individuals, including income generation loans, top-up loans, micro enterprise loans, lifestyle and family welfare loans, and more. The company also provides non-financial services such as insurance and financial counseling. Its primary focus is on rural customers who often lack access to formal banking services. As of September 30, 2023, the company has 1,485 branches in 21 states and one union territory in India, with 14,286 employees serving an active customer base of 27.20 lakh.