IIFL Finance , a prominent player in India's financial services sector, has announced a significant change in its subsidiary IIFL Home Finance's top leadership. The company has appointed Girish Kousgi as its new Managing Director (MD) and Chief Executive Officer (CEO).

Leadership Transition

This appointment marks a new chapter for IIFL Home Finance, a subsidiary of IIFL Finance Limited. Girish Kousgi, with his appointment as MD & CEO, is set to steer the company's strategic direction and oversee its operations in the competitive housing finance market.

About IIFL Home Finance

IIFL Home Finance is known for its role in providing housing loans and contributing to India's housing finance sector. As a part of the larger IIFL Group, the company has been working towards making home ownership accessible to a wider segment of the population.

Implications for the Company

The appointment of a new MD & CEO is often a significant event for any company, potentially bringing fresh perspectives and strategies. For IIFL Home Finance, this leadership change could signal new directions in its business approach, product offerings, or market focus.

While specific details about Girish Kousgi's background and plans for IIFL Home Finance are not provided in the current news update, his leadership will be crucial in navigating the challenges and opportunities in India's dynamic housing finance sector.

Stakeholders, including employees, customers, and investors, will likely be watching closely to see how this new appointment influences the company's performance and strategic initiatives in the coming months.

IIFL Finance Limited, a prominent player in the Indian financial services sector, has successfully raised ₹500 crore through the allotment of perpetual debentures. This strategic move, approved by the company's Finance Committee on September 30, 2025, marks a significant development in IIFL Finance's capital structure and funding strategy.

Debenture Details

The company has allotted 500 perpetual, unsecured, non-convertible debentures (NCDs) with a face value of ₹1 crore each. These debentures, classified as Series PDI-1 FY 2026, carry a coupon rate of 9.90% per annum. The NCDs will be listed on the National Stock Exchange of India Limited, enhancing their liquidity and tradability.

Key Features

• Perpetual Nature: These debentures have no fixed maturity date, providing IIFL Finance with long-term capital stability.
• Call Option: The company retains the right to exercise a call option after 10 years, subject to approval from the Reserve Bank of India (RBI).
• Interest Payments: Annual interest payments are scheduled to commence from September 30, 2026.
• Default Clause: In the event of a payment default, IIFL Finance will be obligated to pay an additional interest of 2.00% per annum over the coupon rate for the defaulting period.

Financial Implications

This issuance strengthens IIFL Finance's capital base, potentially improving its ability to expand its lending activities and meet regulatory capital requirements. The perpetual nature of these debentures aligns with the company's long-term financial planning strategy.

Market Context

The successful placement of these debentures at a 9.90% coupon rate reflects investor confidence in IIFL Finance's business model and financial health. It also indicates the company's ability to access capital markets effectively, even in a competitive financial landscape.

Regulatory Compliance

IIFL Finance has ensured compliance with the Securities and Exchange Board of India (SEBI) regulations, including timely intimation to the stock exchanges about this significant financial transaction.

This capital raise through perpetual debentures underscores IIFL Finance's proactive approach to capital management and its commitment to maintaining a robust financial position in the dynamic Indian financial services sector.