Hot Pursuit     06-Apr-23
IIFL Finance gains on raising Rs 125 cr via NCDs
IIFL Finance advanced 1.89% to Rs 469.50 after the finance committee of the company's board approved allotment of non-convertible debentures (NCDs) aggregating to Rs 125 crore on private placement basis.
The NBFC allotted 12,500 Secured Redeemable NCDs series D23 having face value of Rs 1 lakh aggregating to Rs 125 crore.

The debentures having a coupon rate of 8.50% p.a. have tenure of upto 1 year and 10 days.

These instruments will be listed on National Stock Exchange of India.

IIFL Finance is one of the leading retail focused diversified NBFC in India, engaged in the business of loans and mortgages along with its subsidiaries - IIFL Home Finance and IIFL Samasta Finance.

The company's consolidated net profit rose 22.2% to Rs 378.30 crore on 16.3% increase in total income to Rs 2144.56 crore in Q3 FY23 over Q3 FY22.

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