IIFL Finance’s board has approved allotment of 6,708,599 unsecured, subordinated, redeemable non-convertible debentures of face value of Rs 1,000 each, for cash at par, aggregating to Rs 670.85 crore on public issue basis. The 87-month tenure bonds, with a coupon rate of 9.6-10 per cent, are set to mature in June 2028. The finance committee of the board of directors of the company vide Resolution dated March 24, 2021, has approved the same.
IIFL Finance is an Indian diversified financial services company.