IIFL Finance inches up on tapping debt market to raise up to Rs 1,500 crore
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IIFL Finance is currently trading at Rs. 477.05, up by 0.35 points or 0.07% from its previous closing of Rs. 476.70 on the BSE.
The scrip opened at Rs. 482.40 and has touched a high and low of Rs. 485.05 and Rs. 476.45 respectively. So far 28320 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 538.40 on 02-Feb-2023 and a 52 week low of Rs. 305.30 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 485.05 and Rs. 440.05 respectively. The current market cap of the company is Rs. 18229.28 crore.
The promoters holding in the company stood at 24.85%, while Institutions and Non-Institutions held 32.13% and 43.02% respectively.
IIFL Finance is tapping the debt market to raise up to Rs 1,500 crore by selling NCDs, offering up to 9 per cent in return to investors. The debt raising through a public issue will be launched on June 9, and the proceeds will be used for business growth and capital augmentation.
The primary issue of secured redeemable non-convertible debentures (NCDs) is for Rs 300 crore, with a green-shoe option to retain over-subscription of up to Rs 1,200 crore, totalling Rs 1,500 crore, offering up to 9 per cent for a 60-month tenor.
IIFL Finance is an Indian diversified financial services company.
