IIFL Finance obtains board approval to raise Rs 5,000 cr by issuing bonds

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IIFL Finance plans to raise loan capital worth Rs 5,000 crore by issuing bonds on a private placement basis, the company announced on Thursday. The bonds will be offered by public offering, subject to regulatory and statutory approvals, IIFL Finance said in a regulatory filing.

“The Board of Directors of the Company, at its meeting held today, 23 June 2022, approved the raising of funds by way of issuance of secured non-convertible redeemable debentures with a retention limit of Rs 50,000 million. , in one or more installments,” he added.

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IIFL Finance is a non-banking finance company (NBFC), offering products such as real estate loans, gold loans and business loans, including loans against property and financing of small and medium enterprises, microfinance, financing for developers and construction. It also offers financing on the capital market; addressing both individuals and businesses.
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, with 3,119 branches in more than 500 cities.
Shares of IIFL Finance were trading at 319.05 rupees each on the BSE, up 1.46% from the previous close.

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