IIFL Finance raises over Rs 670 cr via bonds

NEW DELHI: IIFL Finance on Wednesday said it has raised over Rs 670 crore by issuing bonds.

"The finance committee of the board of directors of the company vide Resolution dated March 24, 2021, approved allotment of 6,708,599 unsecured, subordinated, redeemable non-convertible debentures of face value of Rs 1,000 each, for cash at par, aggregating to Rs 670,85,99,000 on public issue basis," it said in a regulatory filing.

The 87-month tenure bonds, with a coupon rate of 9.6-10 per cent, are set to mature in June 2028.

IIFL Finance's shares on Wednesday fell 1.2 per cent to close at Rs 297.15 apiece on the BSE.