IFL Finance has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The proposed IPO comprises a fresh issue of up to 3.55 crore equity shares and an offer-for-sale (OFS) of up to 30 lakh equity shares by existing shareholders.
The company proposes to utilise the proceeds from the fresh issue to augment its Tier-I capital base to support future capital requirements, including lending activities, and to comply with the capital adequacy norms. Aryaman Financial Services is the sole book-running lead manager to the issue.
IFL Finance is a non-deposit-taking NBFC classified as an Investment and Credit Company (NBFC-ICC) under the RBI's Base Layer framework. The company primarily provides secured retail loans with a focus on gold loans.
