IIFL Finance issues NCDs worth Rs 35 crore

IIFL Finance on Monday allotted unsecured subordinated redeemable non-convertible debenture- Series D24 worth Rs 1 crore, the company announced through an exchange filing. The allocation of the NCDs aggregating to Rs 35 crore was approved by the Finance Committee of the Board of Directors.

The 35 NCDs will be allotted on a private placement basis and have an interest rate of 9.20 per cent per annum. The tenor for the NCDs has been set at 120 months with the payment of interest on May 8 of 2024, 2025, 2026 and 2027.

IIFL Finance in April had issued NCDs worth Rs 125 crore and in March it had announced allotment of 30 NCDs for the face value of Rs 1 crore each.

IIFL Finance shares

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The shares of IIFL Finance on Monday at 12:13 pm IST were at Rs 467.65, up by 0.72 per cent.

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IIFL allots non-convertible debentures worth Rs 125 crore