Nirmal Jain-Led IIFL Finance To Issue Secured Bonds Worth Rs 1,500 Cr

Financial services firm IIFL Finance on Friday said it is all set to open a public issue of secured bonds to raise up to Rs. 1,500 crore, for the purpose of business growth and capital augmentation. The financial institution will issue bonds that offer up to 9 per cent yield and a high degree of safety, they will be issued as secured redeemable non-convertible debentures (NCDs), aggregating to Rs 300 crore, with a green-shoe option to retain over-subscription of up to Rs 1200 crore. Watch BTTV's Rachna Dhanrajani in conversation with Group CFO Kapish Jain.