Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
IIFL Finance Limited ( (IN:IIFL) ) just unveiled an update.
IIFL Finance has approved the issuance of two tranches of listed, rated non-convertible debentures (NCDs) on a private placement basis, with a total potential fundraise of up to Rs 800 crore. The first tranche comprises unsecured, subordinated, redeemable NCDs of up to Rs 700 crore, while the second comprises perpetual unsecured NCDs of up to Rs 100 crore, both proposed to be listed on the National Stock Exchange of India. The move underscores the company’s continued reliance on capital markets for funding and balance sheet strengthening, providing additional debt capital that can support future lending growth and reinforce its funding diversification strategy, with defined provisions for higher interest in case of payment delays to protect debenture holders.
More about IIFL Finance Limited
IIFL Finance Limited is a diversified non-banking financial company (NBFC) based in India, offering a range of lending and financial products. The company focuses on retail and small business customers through loans and related credit products, and its debt securities are listed on Indian stock exchanges, positioning it as an active issuer in the domestic capital markets.
Average Trading Volume: 74,597
Technical Sentiment Signal: Buy
Current Market Cap: 240.1B INR
See more insights into IIFL stock on TipRanks’ Stock Analysis page.