A well-known financial services company, IIFL Finance, has declared its intention to begin a public offering of secured bonds on June 9, 2023, with the goal of raising up to Rs 1,500 crore. The money raised through this issuance will be used to increase capital and grow the business, enhancing the operations of the company.
The business plans to sell secured redeemable non-convertible debentures (NCDs) for Rs 300 crore, with a further green shoe option to keep up to Rs 1,200 crore in oversubscription. This indicates that IIFL Finance has the ability to extend the offering amount to a total of Rs 1,500 crore if there is a strong response from investors.
In order to diversify its funding sources and acquire long-term capital at advantageous terms, IIFL Finance decided to issue secured bonds. The money raised will help the business with its expansion objectives, improve its ability to provide loans, and strengthen its overall financial position.
Investors will have the chance to take part in this public offering and invest in secured NCDs provided by IIFL Finance, which offer a desirable route for investments with guaranteed returns and a specified maturity period.
This action by IIFL Finance demonstrates both its proactivity in capital raising and its dedication to promoting sustainable growth. Investors’ faith in the company’s business model and future prospects is demonstrated by its capacity to obtain funds from the market.
Investors and stakeholders will closely monitor the response as the public issue of secured bonds gets underway and look forward to the good effects it will have on IIFL Finance’s growth trajectory and financial performance.