IIFL Finance Limited has announced a comprehensive public issue of non-convertible debentures (NCDs) worth up to ₹2,000 crores, marking a significant fundraising initiative for the financial services company. The Finance Committee of the Board of Directors approved this strategic move on February 12, 2026, under the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations.

Issue Structure and Size

The NCD issue features a well-structured approach with multiple investment options for potential subscribers:

Timeline and Listing Details

The public issue will commence on February 17, 2026, and remain open until March 4, 2026. The company has designated both major stock exchanges for listing, with NSE serving as the designated stock exchange:

Nine Series with Diverse Investment Options

The NCDs are structured across nine distinct series, offering investors flexibility in terms of tenor and interest payment frequency. The series range from 24 months to 60 months with varying coupon rates:

Monthly Interest Payment Series

Annual Interest Payment Series

Cumulative Interest Series

Security and Charge Structure

The NCDs will be secured by a first ranking pari passu charge through hypothecation over the company's receivables, book debts, loans, advances, and current assets. The security structure ensures 100% coverage of outstanding principal amounts and interest until the maturity date. The charge will be created in favor of the Debenture Trustee as outlined in the Debenture Trust Deed.

The company has committed to creating the security prior to making the listing application with the stock exchanges. Additionally, if the company fails to execute the Debenture Trust Deed within the prescribed period, it will pay an additional 2% per annum interest to NCD holders over the agreed coupon rate.

Regulatory Compliance and Documentation

The issue operates under the shelf limit of ₹2,000 crores and includes comprehensive documentation filed with regulatory authorities. Both the Shelf Prospectus and Tranche I Prospectus dated February 12, 2026, have been filed with the Registrar of Companies Maharashtra Mumbai, SEBI, NSE, and BSE. The company has structured the issue in full compliance with SEBI NCS Regulations and LODR requirements.

Source:

IIFL Finance Limited has received comprehensive credit rating updates from two prominent rating agencies, ICRA Limited and CRISIL Ratings Limited, as disclosed in a regulatory filing dated February 12, 2026.

ICRA Rating Reaffirmations

ICRA Limited has reaffirmed its credit ratings for IIFL Finance Limited across multiple debt instruments. The rating agency maintained its assessment with specific ratings for different financial products.

CRISIL Rating Actions

CRISIL Ratings Limited took multiple rating actions for IIFL Finance Limited, including both new assignments and reaffirmations. The agency assigned a fresh rating to NCDs worth Rs.2,000 crore while maintaining its outlook on existing instruments.

Subsidiary Rating Updates

ICRA also updated ratings for IIFL Home Finance Limited, a material subsidiary of IIFL Finance Limited. The subsidiary received comprehensive rating reaffirmations across its debt portfolio.

Regulatory Compliance

The company disclosed these rating updates in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The rating reports are available on the respective agencies' websites for detailed analysis and rationale.

The rating agencies have published detailed rationale reports on their websites, providing comprehensive analysis of the rating decisions for both IIFL Finance Limited and its subsidiary IIFL Home Finance Limited.