IIFL Home Finance Ltd., a subsidiary of IIFL Finance Ltd., plans to raise up to Rs 500 crore through non-convertible debentures at a face value of Rs 1,000 each, according to an exchange filing on Thursday.
IIFL Home Finance’s public issue of secured, rated, listed and redeemable NCDs will have a base issue size of up to Rs 100 crore, with an oversubscription option to retain up to Rs 400 crore. The total number of securities proposed to be issued is 50 lakh, it said.
The NCDs are fixed-income instruments with specific terms and interest rates, issued to raise funds without the option to convert them into equity.
