High Demand: IIFL Finance's NCD Issue Fully Subscribed on Opening Day

IIFL Finance Ltd's base issue of secured redeemable non-convertible debentures (NCDs) was fully subscribed within hours of opening, signifying strong investor trust. Aimed at raising up to Rs 2,000 crore, the funds will support business growth and capital enhancement, with yields up to 9% per annum offered.

In a show of strong investor confidence, IIFL Finance Ltd announced that its base issue of secured redeemable non-convertible debentures (NCDs) was fully subscribed within hours of opening.

The public issue, which launched on Tuesday, aims to raise up to Rs 2,000 crore, with an initial base issue of Rs 500 crore and a green-shoe option that may bring in an additional Rs 1,500 crore.

IIFL Finance Managing Director Nirmal Jain emphasized the company's focus on prudent capital deployment to expand credit access. The NCDs promise a yield of up to 9% per annum, with multiple investment tenors and payment options available to investors.

(With inputs from agencies.)