IIFL Finance board okays plan to raise ₹700 crore via NCDs; check key details

IIFL Finance to raise up to ₹700 crore through secured, listed, rated, redeemable non-convertible debentures (NCDs) via private placement.

“…committee of the Board of Directors of the company, at their meeting held today, i.e., March 13, 2025, considered and approved the terms and conditions, including enhancement of the size of the issue for the re-issuance of previously issued NCDs on a private placement basis in the form of secured, listed, rated, redeemable, non-convertible debentures,” IIFL said in an exchange filing on Thursday.

The fundraising plan includes enhancement up to 70,000 NCDs, which will include a green shoe option to retain oversubscription up to 27,500 NCDs.

“In case of occurrence of any event of default (including delay in payment of coupon and/or redemption of principal amount on the due date), the company shall pay additional interest at 2% per annum,” the company said further.

On Thursday, shares of IIFL Finance settled 0.03% lower at ₹313 apiece.

Over a month’s period, the scrip has lost over 5.5%, while for a 6-month period, the stock is down nearly 40%.

Year-to-date, IIFL shares have declined over 25%.

Its market capitalisation stands at ₹13,287.37 crore.

Shares of IIFL Finance had touched its 52-week low of ₹279.80 on March 4, 2025, while its one-year high was attained on September 20, 2024, at ₹560.60 per share.

For the December quarter, IIFL Finance had reported a 92% fall in its net profit to ₹40.70 crore for the financial year 2024-2025. The lender saw a net profit of ₹490.44 crore in the previous quarter.

Its total income also declined 4.4% to ₹2,442.58 crore as compared to ₹2,556.04 crore in the last quarter.

The lender’s net interest income (NII) was down 21.7% to ₹1,235.16 crore for Q3FY25, as compared to ₹1,577.98 crore in the year-ago period.