India Infoline Finance NCD issue oversubscribed

MUMBAI: India Infoline Finance Ltd today said its public issue of secured redeemable non-convertible debentures aggregating Rs 525 crore has been fully subscribed.

The debentures opened for subscription on September 17. The public issue of NCDs, consisting of a base issue of Rs 525 crore, received overwhelming response from investors and was oversubscribed by 1.03 times as at the close of bidding time on September 18, a company release said here.

The issue will remain open till October 4 as IIFL has option to retain oversubscription up to Rs 525 crore aggregating Rs 1,050 crore of the overall NCD size, it said.

The NCDs have an option of monthly and annual interest payment. The yield works out to 12.68 per cent per annum for the monthly interest option and 12 percent per annum for the annual one, the company added.

This is probably the largest NCD issue by any private player till now in 2013.