Chennai: IIFL Finance, one of India’s largest Non-Banking Financial Companies, is opening a public issue of bonds today, to raise up to Rs 1,000 crores, for the purpose of business growth and capital augmentation.
IIFL said the bonds offer up to 10.03 per cent yield and high degree of safety.
The Fairfax and CDC Group backed IIFL Finance will issue unsecured redeemable non-convertible debentures (NCDs), with a base of Rs 100 crore, and a green-shoe option to retain over-subscription up to Rs 900 crore (aggregating to a total of Rs 1,000 crore).