Lucknow. IIFL Finance Limited, the country’s leading non-banking financial company (NBFC), has issued a public issue of redeemable non-convertible debentures (NCDs), which opened from Tuesday. The base size of the issue is Rs 500 crore, while a green-shoe option has been kept for oversubscription up to Rs 1,500 crore.
Thus, the total issue size can be up to Rs 2,000 crore. The company has said that this amount will be used for business expansion and strengthening the capital base. According to the company, effective returns on NCDs will be up to a maximum of nine percent per annum. The issue is available in tenure options of 24, 36 and 60 months. Investors have been given the option to take interest payment monthly, annually or on maturity.
The face value of each NCD is Rs 1,000 and the minimum application amount has been fixed at Rs 10,000. The issue will close on March 4, although it can be closed earlier also. The allotment will be done on ‘first come, first served’ basis. The issue has been rated ‘CRISIL AA/Stable’ by CRISIL Ratings and ‘BWR AA (Stable)’ by Brickwork Ratings, indicating relatively low credit risk.
Nirmal Jain, Founder and Managing Director of the company, said that IIFL Finance’s diversified retail portfolio serves more than 4.6 million customers and credit availability will be further enhanced through this proposed issue. As of December 31, 2025, the company’s consolidated assets under management (AUM) stood at Rs 98,336 crore.
The company’s gross NPA has been recorded at 1.60 percent and net NPA at 0.75 percent. The company earned profit after tax of Rs 501.3 crore in the third quarter of FY 2026. The NCDs will be listed on BSE Limited and National Stock Exchange of India. The lead managers to the issue are Trust Investment Advisors Pvt Ltd, Nuvama Wealth Management Ltd and IIFL Capital Services Ltd.
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