New IPO Alert: Gold loan-focused NBFC IFL Finance files DRHP with SEBI

Gold loan-focused non-banking financial company (NBFC) IFL Finance Ltd has filed a draft red herring prospectus (DRHP) with capital markets regulator Stock Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO).

The proposed IPO is a combination of 3.55 crore new equity shares and an offer-for-sale (OFS) of up to 30 lakh shares by promoters Sunita Bansal, Kriti Suri, Gopal Bansal HUF and Arvind Kumar Bansal HUF, according to the preliminary papers.

The New Delhi-based NBFC intends to use the proceeds from the fresh issue to augment its Tier-I capital base to support future capital requirements, including lending activities, and to comply with the capital adequacy norms.

"In addition, our company expects to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of our company's brand name and creation of a public market for our equity shares in India," the DRHP said.

The company may also undertake a pre-IPO placement of up to 1.15 crore shares before filing the red herring prospectus (RHP). If successful, the fresh issue size will be reduced accordingly.

IFL Finance Ltd is a non-deposit-taking NBFC classified as an Investment and Credit Company (NBFC-ICC) under the Reserve Bank of India's Base Layer framework. The company primarily offers secured retail loans with a focus on gold loans.

As of March 2026, it operated 88 branches across Rajasthan, Delhi, Uttar Pradesh, Madhya Pradesh and Haryana, serving more than 33,000 active borrowers.

The company's gross loan portfolio climbed to ₹520.49 crore as of March 2026, from ₹279.10 crore two years earlier, reflecting a CAGR of 36.56%.

Gold loans contributed 84.77% of the loan book, while home loans and loans against property accounted for 14.33% and 0.90%, respectively, as of March 31, 2026.

Aryaman Financial Services Ltd is the issue's book-running lead manager.