IIFL Finance’s subsidiary company -- IIFL Home Finance is planning to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs). The tranche 1 issue includes a base issue size of Rs 100 crore and a greenshoe option of Rs 900 crore aggregating up to Rs 1,000 crore. The issue will open for subscription on July 6, 2021, and close on July 28, 2021, with an option of early closure or extension.
The NCD has a tenor of 87 months and offers various options for subscription with coupon rates ranging from 9.60 per cent to 10 per cent per annum. The fund will be utilised for onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of the company and the balance will be used for general corporate purposes.
IIFL Finance is an Indian diversified financial services company.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 909.10 |
| Shriram Finance | 1044.70 |
| Aditya Birla Capital | 343.70 |
| Chola Invest & Fin. | 1581.85 |
| Tata Capital | 337.10 |
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