IIFL Finance raises Rs 100 crore through debentures

IIFL Finance Ltd has said, “It has raised Rs 100 crore through issuance of non-convertible debentures (NCDs) on private placement basis.”

IIFL Finance in a regulatory filing said, “Finance Committee of the board of directors has approved the allotment of 1,000 NCDs of the face value of Rs 10 lakh each, for cash at par, aggregating to Rs 100 crore on a private placement basis.”

“The NCDs will carry an interest rate of 7.7 percent per annum,” the filing added.