IIFL Finance NCD issue oversubscribed, plans early closure

IIFL Finance Limited (IIFL Finance) announced that its public issue of secured, rated, and listed redeemable non-convertible debentures (NCDs) has been oversubscribed 4.75 times, reaching INR 475.03 crore by the end of April 9, 2025. Due to the strong investor response, the issue, which opened on April 7, 2025, will now close on April 11, 2025, ahead of its initially planned closing date of April 23, 2025. The NCDs, rated "Crisil AA/Stable” by Crisil Ratings Limited and “[ICRA] AA (Stable)" by ICRA Limited, offered a highest effective yield of 10.24% per annum for the tenor of 60 months. The funds raised will be used for onward lending, refinancing existing debt, and general corporate purposes. IIFL Finance, a non-banking financial company (NBFC), has a widespread network of 4,858 branches and a workforce of 38,235 employees as of December 31, 2024. The lead managers to the issue are Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited and IIFL Capital Services Limited.