IIFL Finance Limited’s Finance Committee approved the issuance of Senior, Secured, Listed, Rated, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis on February 24, 2026. The total issue size is capped at INR 1,000 Crore, comprising a base issue of up to INR 500 Crore and a green shoe option for an oversubscription of up to INR 500 Crore. These NCDs, Series D36, are proposed to be listed on the National Stock Exchange of India Limited.
Approval for Debt Issuance
The Finance Committee of the Board of Directors of IIFL Finance Limited, during its meeting held on February 24, 2026, sanctioned the terms for raising debt capital. The instruments approved are Senior, Secured, Listed, Rated, Redeemable Non-Convertible Debentures, designated as Series D36, to be issued through a Private Placement mechanism.
Issue Size and Structure Details
The maximum aggregate size of the issue is INR 1,000 Crore, which is structured as follows:
- Total Maximum NCDs: Up to 1,00,000 NCDs.
- Base Issue Size: Up to 50,000 NCDs, equivalent to INR 500 Crore (based on a face value of INR 1,00,000 per NCD).
- Green Shoe Option: An option to retain oversubscription up to an additional 50,000 NCDs (INR 500 Crore).
Listing and Security Information
The issuance involves securities that are intended to be Listed. The designated stock exchange for listing is the National Stock Exchange of India Limited. The key terms concerning tenure, allotment, maturity, coupon/interest schedule, and principal repayment schedule will be detailed as per the relevant Key Information Document provided to investors.
Default Provisions
In the event of a delay in the payment of interest or principal extending beyond three months from the due date, the Company is mandated to pay additional interest at the rate of 2% per annum over the established Coupon Rate. This penalty interest accrues from the date of the Event of Default until the event is cured to the satisfaction of the Debenture Trustee.
Source: BSE
