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    IIFL Fin gets board nod for Rs 5,000-crore bond issue

    Synopsis

    "The board of directors of the company at their meeting held today, June 23, 2022, approved the raising of funds by way of issuance of secured redeemable non-convertible debentures with the shelf limit of Rs 50,000 million, in one or more tranches,"it added.

    iiflAgencies
    IIFL Finance is a non-banking finance company (NBFC), offering products such as home loans, gold loans, and business loans
    IIFL Finance is planning to raise debt capital worth Rs 5,000 crore by issuing bonds on a private placement basis, the company said on Thursday. The bonds will be offered through public issue, subject to regulatory and statutory approvals, IIFL Finance said in a regulatory filing.

    "The board of directors of the company at their meeting held today, June 23, 2022, approved the raising of funds by way of issuance of secured redeemable non-convertible debentures with the shelf limit of Rs 50,000 million, in one or more tranches," it added.

    IIFL Finance is a non-banking finance company (NBFC), offering products such as home loans, gold loans, and business loans, including loans against property and medium & small enterprise financing, microfinance, developer and construction finance.

    It also offers capital market finance; catering to both retail and corporate clients.

    Its subsidiaries - IIFL Home Finance Ltd and Samasta Microfinance Ltd -- are engaged in providing a diverse range of loans and mortgages.

    The NBFC has a nationwide presence, having 3,119 branches across over 500 cities.

    Shares of IIFL Finance were trading at Rs 319.05 apiece on BSE, up by 1.46 per cent from the previous close.



    ( Originally published on Jun 23, 2022 )
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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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