The Business Bytes
TBB BUREAU
BHUBANESWAR, MARCH 2, 2021
IIFL Finance, one of India’s largest Non-Banking Financial Companies, will open a public issue of bonds on March 03, 2021, The bonds offer up to 10.03 per cent yield and high degree of safety making it one of the best debt investment products in the current scenario with almost double the interest rate offered by bank fixed deposit, liquid funds etc.
The IIFL bonds offer highest yield of 10.03 per cent per annum for a tenor of 87 months. The NCD is available in various options like monthly, annual and at maturity.
In the current scenario, the rate of interest offered by IIFL Finance bonds is very attractive compared with other debt products.
The bonds issued by Fairfax and CDC Group backed IIFL Finance aims to raise a minimum of Rs 100 crore, with a green-shoe option to retain over-subscription up to Rs 900 crore (aggregating to a total of Rs 1,000 crore).
The IIFL bonds would be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 across all categories.
The public issue will open on March 3, 2021 and close on March 23, 2021, with an option of early closure. The allotment will be made on first come first served basis.
IIFL Finance is one of India’s largest retail-focused financial services companies. IIFL Finance’s Loan Assets under Management is Rs 42,264 crore. Most importantly, 90 per cent of the book is retail – which is focused on small ticket loans.
