Non-banking financial company IIFL Finance will be issuing non-convertible debentures of various maturities to raise up to Rs 1,000 crore.
The base offer of the NCD issue is for Rs 100 crore, with a green-shoe option to retain oversubscription up to Rs 900 crore.
The debentures will offer an effective yield of 8.75% per annum for the tenor of 60 months. The company will also offer an incentive of 0.25% per annum for its existing bond or equity shareholders.
The debentures are available in tenors of 24 months, 36 months and 60 months.
The funds raised will be used for business growth and capital augmentation, the release said. The issue will open on September 27, 2021, and close on October 18, 2021, with an option of early closure.