IIFL Finance has accepted the resignations of two senior management personnel effective September 11, 2026. The departures involve key roles in legal compliance and the loan against property segment.

Binay Kumar Mishra, who served as Head – Legal, and Vinay Agarwal, the Business Head for Loan Against Property (LAP), have both stepped down to explore new opportunities. Their resignations were communicated to the stock exchanges pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Executive Departures

The company disclosed the changes in a filing addressed to the listing departments of the BSE and NSE. Samrat Sanyal, Company Secretary & Compliance Officer, signed the disclosure on September 11, 2026.

Both executives cited personal career moves as the reason for leaving. No replacement appointments were announced in the current filing.

The filings were also copied to the India International Exchange (IFSC) Limited and NSE IFSC Limited as part of standard regulatory compliance procedures.

IIFL Finance Limited has allotted ₹25 crore worth of secured non-convertible debentures (NCDs) on a private placement basis. The issuance, designated as Series D39, was approved by the company’s Finance Committee on September 9, 2026.

The deal involves the allotment of 2,500 debentures, each with a face value of ₹1 lakh. The instruments are listed on the National Stock Exchange of India Limited and carry a coupon rate of 9.10% per annum. Interest payments are scheduled for September 9, 2027, and September 8, 2028, with the principal amount redeemable on the latter date.

Instrument Details

The NCDs have a tenure of two years from the deemed date of allotment. Key terms of the issuance are outlined below:

Security Structure

The debentures are secured by a first-ranking pari passu charge over specific assets of IIFL Finance. This includes current, standard, and performing book debts, loans, advances, and receivables arising from gold loans, MSME/business loans, real estate loans, capital market loans, and loans against property.

The security cover excludes receivables exclusively charged to existing holders as disclosed to the Debenture Trustee. The company must maintain the required security cover throughout the tenor of the debentures.

Default Provisions

In the event of a default, including delays in interest or principal payments exceeding three months, IIFL Finance is obligated to pay additional interest at 2% per annum over the coupon rate. This penalty applies from the date of the default event until it is cured to the satisfaction of the Debenture Trustee.