IIFL Fin to close Rs 1k cr bond issue early on Mar 18

KOLKATA: CDC Group-backed IIFL Finance said it would close its Rs 1000 crore bond issue early on March 18 following better than expected response from investors.

The bonds which offer up to 10.03 per cent yield have already been subscribed for Rs 468 crore, IIFL said.

The issue of unsecured redeemable non-convertible debentures was earlier scheduled to close on March 23.


The bonds, while offering the highest yield of 10.03 per cent per annum for 87 months, are available in various options like monthly, annual and at maturity.

“The public issue has seen good response from across categories of investors. The funds raised will be used for meeting credit needs of the underserved population, who form a majority of our customers,” chief financial officer Rajesh Rajak said.

The issue is rated "AA" by Crisil and "AA+" by Brickwork, indicating a high degree of safety for timely servicing of financial obligations.