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IIFL Finance NCDs Fully Subscribed on Day One
17 Feb
Summary
- IIFL Finance's secured NCDs fully subscribed on opening day.
- Base issue of Rs 500 crore with Rs 1,500 crore greenshoe option.
- NCDs offer up to 9% annual yield with flexible tenors and payment options.
IIFL Finance's base issue of secured redeemable non-convertible debentures (NCDs) was fully subscribed on its opening day, indicating robust investor demand and confidence in the company's financial standing. The public issue, which opened on Tuesday, has a base issue size of Rs 500 crore and includes a green-shoe option allowing for oversubscription retention up to Rs 1,500 crore, making the total issue size up to Rs 2,000 crore. As of noon on its opening day, the issue had garnered subscriptions totaling Rs 652 crore, according to live data from BSE. The NCDs are available with investment tenors of 24, 36, and 60 months, offering an effective yield of up to approximately 9 percent per annum. Investors can choose their preferred interest payment method, including monthly, annual, or cumulative options payable at maturity. The funds raised from this issue will be utilized by IIFL Finance for business expansion and capital augmentation, aligning with the company's strategic focus on prudent capital deployment to enhance credit accessibility and create long-term stakeholder value.
