IIFL Finance is planning to raise up to Rs 500 crore through a public issue of secured, rated, listed redeemable non-convertible debentures (NCDs). The funds raised will be used for the purpose of onward lending, financing / refinancing the existing indebtedness of the company, and/or debt servicing (payment of interest and/or repayment / prepayment of interest and principal of existing borrowings of the company) and general corporate purposes.
The company will issue NCDs up to Rs 100 crore (Base Issue Size), with an option to retain over-subscription of up to Rs 400 crore (Green Shoe Option) aggregating up to Rs 500 crore. The NCDs under Series IX offer highest effective yield of 10.24% per annum for the tenor of 60 months. The NCDs are available in tenors of 15 months, 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly, annual and cumulative basis.
IIFL Finance is an Indian diversified financial services company.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 943.35 |
| Shriram Finance | 1001.50 |
| Aditya Birla Capital | 367.90 |
| Chola Invest & Fin. | 1653.65 |
| Tata Capital | 340.80 |
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