IIFL Finance Approves ₹800 Crore NCD Issuance
IIFL Finance Limited's board committee has approved the issuance of Non-Convertible Debentures (NCDs) worth up to ₹800 crores on a private placement basis. The issuance comprises two series: Series 1 with a potential size of ₹700 crores (₹200 crores base issue + ₹500 crores green shoe option) of unsecured, subordinated, redeemable NCDs, and Series 2 with a potential size of ₹100 crores (₹50 crores base issue + ₹50 crores green shoe option) of unsecured, perpetual NCDs. Both series will be listed on the National Stock Exchange of India Limited.
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IIFL Finance Limited's board committee has approved the issuance of Non-Convertible Debentures (NCDs) worth up to ₹800 crores on a private placement basis. The approval, granted during a committee meeting, encompasses two distinct series of debt instruments with different structures and tenures.
NCD Series Details
The approved NCD issuance comprises two separate series with different characteristics and investment options:
| Parameter | Series 1 | Series 2 |
|---|---|---|
| Type | Unsecured, Subordinated, Listed, Rated, Redeemable NCDs | Unsecured, Listed, Rated NCDs |
| Base Issue Size | ₹200.00 crores | ₹50.00 crores |
| Green Shoe Option | ₹500.00 crores | ₹50.00 crores |
| Total Potential Size | ₹700.00 crores | ₹100.00 crores |
| Number of NCDs (Base) | Up to 20,000 NCDs of ₹1,00,000 each | Up to 500 NCDs of ₹1,00,00,000 each |
| Green Shoe NCDs | Up to 50,000 NCDs | Up to 50 NCDs |
| Tenure | As per Key Information Document | Perpetual |
Regulatory Compliance and Listing
The NCD issuance follows the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically under Regulations 30 and 51. Both series will be listed on the National Stock Exchange of India Limited, ensuring transparency and regulatory compliance for investors.
The company has structured the offering to provide flexibility through the green shoe option, allowing retention of oversubscription based on market demand. The total combined potential of both series reaches ₹800.00 crores, representing a significant debt fundraising initiative.
Terms and Conditions Framework
Key operational parameters for both NCD series include:
- Interest Payment: Details specified in respective Key Information Documents
- Default Penalty: Additional interest at 2.00% per annum over coupon rate for delays exceeding three months
- Security: Not applicable for both series
- Special Rights: Not applicable
- Redemption: As per relevant Key Information Documents
Corporate Communication
IIFL Finance has made this information available on its corporate website at www.iifl.com , ensuring transparent disclosure to stakeholders and potential investors.
The approval represents a structured approach to debt capital raising, with the perpetual nature of Series 2 NCDs offering long-term funding flexibility while Series 1 provides traditional redeemable debt instruments for diverse investor preferences.
Historical Stock Returns for IIFL Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.84% | -1.02% | +6.06% | +18.61% | +39.51% | +438.49% |
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