IIFL Finance allots ₹500 crore perpetual debt instruments

IIFL Finance Limited announced on September 30, 2025, the allotment of 500 perpetual, unsecured, listed, and rated debentures, structured as Non-Convertible Debentures (NCDs) via a private placement. Each NCD has a face value of ₹1,00,00,000, bringing the total issue size to ₹5,00,00,00,000. These NCDs, designated Series PDI-1 FY 2026, will be listed on the National Stock Exchange of India Limited and carry a coupon rate of 9.90%.

The NCDs are perpetual, meaning they do not have a fixed maturity date. However, the company retains the option to exercise a call option after a minimum of 10 years from the allotment date, subject to prior approval from the RBI. Interest payments are scheduled annually, commencing September 30, 2026, and continuing until at least September 30, 2035.

In the event of a default in interest or principal payments, IIFL Finance Limited will incur an additional interest charge of 2% per annum above the coupon rate for the defaulting period. The company also confirmed that no specific charge or security has been created over its assets for these instruments.