IIFL Finance Limited has received approval from its Finance Committee to raise funds through the issuance of unsecured, non-convertible perpetual debentures. The company plans to raise up to INR 200 crore via a private placement of 200 debentures, each with a face value of INR 1,00,00,000. These instruments are perpetual in nature, with a potential call option available to the company after a period of ten years.
Details of the Debt Offering
The Finance Committee of IIFL Finance officially approved the terms for the issuance of these perpetual debt instruments on May 15, 2026. The offering consists of 200 unsecured, non-convertible perpetual debentures, aimed at raising a total capital of INR 200 crore. Each debenture is valued at INR 1,00,00,000.
Key Terms and Conditions
As these instruments are classified as perpetual, they do not have a standard maturity date. However, the company maintains the right to exercise a call option on these debentures after the expiry of at least 10 years from the date of allotment, subject to receiving prior approval from the Reserve Bank of India.
Default and Interest Provisions
In the event of a delay in the payment of interest or the redemption of principal, the company is mandated to pay an additional interest of 2% per annum over the standard coupon rate. This penalty remains in effect from the date of the default until it is fully resolved to the satisfaction of the Debenture Trustee.
Source: BSE
