IIFL Finance Limited announced the approval of a private placement issuance for 13,000 Secured, Listed, Rated, Redeemable, Non-Convertible Debentures (NCDs). These debentures, with a face value of INR 1,00,000/- each, aggregate to INR 1,30,00,00,000/- (INR 1,300 Crore). The issuance is designated as Series D37 Reissue I, matures in September 2028, and carries an interest rate of 9.25% p.a. The debentures will be listed on the National Stock Exchange of India Limited.
IIFL Finance Raises Capital Through NCD Issuance
IIFL Finance Limited’s Finance Committee of the Board of Directors has approved the allotment of 13,000 Secured, Listed, Rated, Redeemable, Non-Convertible Debentures (NCDs) through a private placement. The total value of this issuance is INR 1,30,00,00,000/- (Indian Rupees One Hundred and Thirty Crores Only). These debentures are part of Series D37 Reissue I and are issued in dematerialised form.
Key Details of the NCD Issue
- Type of Securities: Secured, Listed, Rated, Redeemable, Non-Convertible Debentures – Series D37 Reissue I
- Type of Issuance: Private Placement
- Total Number of Debentures: 13,000
- Size of Issue: INR 1,30,00,00,000/-
- Proposed to be Listed: Yes, on the National Stock Exchange of India Limited
- Tenor: 2 years from the Deemed Date of Allotment
- Date of Allotment: September 21, 2026
- Date of Maturity: September 01, 2028
- Coupon/Interest Rate: 9.25% p.a.
- Interest Payment Schedule: September 02, 2027, and September 01, 2028
- Principal Repayment: September 01, 2028
Security and Charges
The NCDs are secured by a first-ranking pari passu charge over all current, standard, and performing book debts, loans and advances, and current assets/receivables of the Company. This security extends to assets arising out of gold loans, MSME/business loans, real estate loans, capital market loans, and loans against property granted by the Company. The charge covers existing and future receivables, with specific exclusions for those already exclusively charged to existing holders, ensuring adequate security cover throughout the tenor of the debentures.
Event of Default Provisions
In the event of default in payment of coupon or principal, the Company will pay additional interest at 2% per annum over the applicable coupon rate. This applies to defaulted amounts in case of payment default and to the outstanding principal amount on the debentures.
The full intimation is available on the company’s website at www.iifl.com.
Source: BSE
