IIFL Finance to raise up to Rs 500 cr via NCD

New Delhi: IIFL Finance Ltd on Friday said it will raise up to Rs 500 crore through a public issue of secured, rated, listed redeemable non-convertible debentures (NCDs) to fund growth.

The funds raised will be used for the purpose of onward lending, financing/refinancing the existing indebtedness of the company and general corporate purposes, IIFL Finance said in a statement.

The issue will open on April 7, 2025, and close on April 23, 2025, it said.

The NCDs under Series IX offer highest effective yield of 10.24 per cent per annum for the tenor of 60 months.

The NCDs are available in tenors of 15 months, 24 months, 36 months and 60 months, it said, adding that the frequency of interest payment is available on a monthly, annual and cumulative basis.