IIFL Finance Limited has announced the approval of a private placement for 10,000 Subordinated, Unsecured, Listed, Rated, Redeemable Non-Convertible Debentures. The total issue size amounts to INR 1,00,00,00,000 (INR 1,000 Crore), with a face value of INR 1,00,000 per debenture. These debentures carry a coupon interest of 9.35% per annum and have a tenure of 7 years, maturing on September 08, 2033.
IIFL Finance Approves Major Debenture Issuance
IIFL Finance Limited has received approval from its Finance Committee for a significant private placement of Non-Convertible Debentures (NCDs). The company will issue 10,000 Subordinated, Unsecured, Listed, Rated, Redeemable Non-Convertible Debentures, Series D38. Each debenture has a face value of INR 1,00,000, bringing the total aggregate issue size to INR 1,00,00,00,000 (INR 1,000 Crore).
Key Terms of the Debenture Issue
The NCDs are set to mature in 7 years from the deemed date of allotment, with the date of maturity fixed for September 08, 2033. The allotment date is September 08, 2026. These debentures will offer a coupon interest of 9.35% per annum, with interest payments scheduled at the end of each month commencing from September 30, 2026. The principal amount will be repaid on September 08, 2033.
Listing and Private Placement Details
The debentures are proposed to be listed on the National Stock Exchange of India Limited. The issuance is being conducted on a private placement basis, as permitted under the relevant listing regulations. In the event of any default, IIFL Finance will pay additional interest of 2% per annum over the coupon rate.
Source: BSE
