India Infoline NCD issue on September 5
India Infoline Finance Ltd will come out with a public issue of unsecured redeemable non convertible debentures of face value of Rs 1,000 each.
By PTI | Updated:
COIMBATORE: India Infoline Finance Ltd will come out with a public issue of unsecured redeemable non convertible debentures of face value of Rs 1,000 each aggregating up to Rs 500 crore from Sept five, a top company official said today.
By this, IIFL expects to increase its Capital Adequacy up to 23 per cent from the present level of 17.86 per cent, above the national average of 15 per cent, Prashant Prabhakaran, President, IIFL, told reporters here.
NCDs will be in the nature of subordinated debt and will be eligible for Tier-II capital and with three investment options. The yield on redemption would be 13.25 per cent, 12.75 per cent and 12.75 per cent, per annum for options, respectively, he said.
The issue would be closed on Sept 18 and NCDs will be listed on NSE and BSE and will have a tradeable lot size of one NCD.
By this, IIFL expects to increase its Capital Adequacy up to 23 per cent from the present level of 17.86 per cent, above the national average of 15 per cent, Prashant Prabhakaran, President, IIFL, told reporters here.
NCDs will be in the nature of subordinated debt and will be eligible for Tier-II capital and with three investment options. The yield on redemption would be 13.25 per cent, 12.75 per cent and 12.75 per cent, per annum for options, respectively, he said.
The issue would be closed on Sept 18 and NCDs will be listed on NSE and BSE and will have a tradeable lot size of one NCD.
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