IIFL Finance Ltd Raises NCD Issue Size to 70,000 Including Green Shoe Option

IIFL Finance Ltd has declared an increase in its Non-Convertible Debentures (NCDs) issue size to scale it up to 70,000 NCDs. The company has included a green shoe provision, granting permission to offer extra securities over and above the original size of the issue if there is strong demand. The step is indicative of the company adopting a strategic measure to take advantage of positive market conditions and raise more funds for its business. This increase is a part of IIFL Finance's overall strategy to diversify its sources of funding and enhance its financials.

 

IIFL Finance's board will consider NCD raising up to Rs 10,000 crore, reflecting the company's aggressive growth and expansion plans. This move reflects IIFL Finance's intent to use the NCD market to raise its financial requirements in an efficient manner.

 

Source: Financial News Network