IIFL Finance allots INR 1,350 crore in debentures

IIFL Finance has announced the allotment of 13,500 secured, listed, rated, redeemable non-convertible debentures (NCDs) with a face value of ₹1,00,000 each, totaling ₹1,350 crore. The Finance Committee of the Board approved the allotment on March 7, 2025. These debentures, under Series D31, will be in dematerialized form and issued through private placement. The NCDs have a tenure of 731 days from the deemed date of allotment, maturing on March 8, 2027, and carry a coupon rate of 9.90% per annum. Interest will be paid on March 7, 2026 and March 8, 2027, with principal repayment on the maturity date. The debentures are secured by a first-ranking pari passu charge over the company's current and standard performing assets. The NCDs will be listed on the National Stock Exchange of India Limited.