IIFL Finance is tapping the debt market to raise up to Rs 1,500 crore by selling NCDs, offering up to 9 per cent in return to investors. The debt raising through a public issue will be launched on June 9, and the proceeds will be used for business growth and capital augmentation.
The primary issue of secured redeemable non-convertible debentures (NCDs) is for Rs 300 crore, with a green-shoe option to retain over-subscription of up to Rs 1,200 crore, totalling Rs 1,500 crore, offering up to 9 per cent for a 60-month tenor.
IIFL Finance is an Indian diversified financial services company.
