IIFL Finance upsizes perpetual debt issue, credit outlook revised to negative

IIFL Finance Limited has announced an enhancement to its Perpetual Debt Instruments issue, increasing it by up to INR 500 Crore on a private placement basis. This brings the total potential issue size to a base of INR 100 Crore with a green-shoe option for an additional INR 400 Crore, to be listed on the National Stock Exchange of India Limited.

Concurrently, ICRA Limited has reaffirmed its ratings for IIFL Finance’s NCDs, Subordinated Debt Programme and Long-Term Bank Lines at [ICRA] AA, and Commercial Papers at [ICRA]A1+, but revised the outlook from 'Stable' to 'Negative'. Similar reaffirmations and outlook revisions were applied to its material subsidiary, IIFL Home Finance Limited. ICRA also withdrew ratings for specific ELDs, MLDs, Long-Term Bank Lines, and NCDs totaling INR 3000 crore and INR 5,143.44 crore respectively.

Additionally, IIFL Finance Limited has declared a closure of its trading window from October 1, 2025, until 48 hours after the unaudited financial results for the quarter and half year ended September 30, 2025, are approved and filed with Stock Exchanges.