India Infoline Finance mops up Rs 900 crore via NCD issue

India Infoline Finance (IIFL) has raised Rs 900 crore through public issue of secured redeemable non-convertible debentures (NCD). The NCD issue has collected Rs 900 crore and is closing on September 23. The NCDs will be listed on the NSE and BSE and will have a tradeable lot size of 1 NCD. Investors prefered to opt for the Monthly Income Option of 3 years and 5 years, respectively. The Retail and QIB portions have been fully subscribed.

On September 17, the company had launched NCD issue aggregating up to Rs 525 crore, with an option to retain over-subscription up to Rs 525 crore, aggregating to a total of up to Rs 1,050 crore.

IIFL NCDs have an option of monthly and annual interest payment and the yield works out to 12.68% per annum for the monthly interest option and 12% per annum for the annual interest option.