IIFL Finance Limited NCD: IIFL Launches Rs. 100 Cr NCDs

IIFL Finance Limited NCD: IIFL Launches Rs. 100 cr NCDs

IIFL Finance Limited NCD

IIFL Finance Limited is a non-banking finance corporation. The firm plans to launch a non-convertible debentures bonds scheme. The scheme opens for subscription on March 3rd, 2021. It will close on March 30th, 2021. IIFL Finance Limited NCD bonds to be listed at BSE.

The firm offers home loans, gold loans, business loans. Moreover, it provides small and medium enterprise financing and microfinance, construction, and real estate finance.

Basic Details of NCD:

 Security Name IIFL Finance Limited
 Issue Period March 3rd, 2021- March 30th, 2021
 Security Type Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)
 Issue Size Rs. 100 crores
 Shelf Issue Size Rs. 900 crores
 Price Rs. 1,000 per NCD
 Face Value Rs. 1,000 per NCD
 Minimum lot size 10 NCD
 Market Lot 10 NCD
 Listing at BSE
 Credit Rating The NCDs have been rated CRISIL AA/Negative by CRISIL Limited BWR AA+/ Negative by Brickworks Ratings India Private Limited
 Basis of Allotment First Come First Serve basis

Objects of the Issue:

The primary object of the issue remains for onward lending, financing, and for repayment or prepayment of interest and principal of existing borrowings of the company. It also plans to utilize net proceeds of the issue for general corporate purposes.

Further, the issue might be managed by Edelweiss Financial Services Limited and Equirus Capital Private Limited.

According to the source, the IIFL issue base size remains at Rs. 100 crores and Shelf issue size at Rs. 900 crores. Moreover, the firm fixed an issue price at Rs. 1,000 per NCD bond at a face value of Rs. 1,000 each NCD.

Credit Rating:

The NCDs have been rated CRISIL AA/Negative by CRISIL Limited BWR AA+/ Negative by Brickworks Ratings India Private Limited. 

Disclaimer: Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Before investment, refer to the SID and statement of additional information available free of cost at any of the Investor Service Centres or distributors.

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