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IIFL Finance Limited (“IIFL” or the “Company”) is a Systemically Important Non-deposit taking Non-Banking Financial Company (“NBFC-ND-SI”) registered with the RBI, catering to the credit requirements of a diverse customer base with its plethora of products; IIFL offerings include loans, gold loans, MSME Secured Loan, MSME unsecured Loan, persona loan, Supply Chain Finance, Microfinance, Construction and Real Estate Finance and Capital Market Finance; catering to both retail and corporate clients; Subsidiaries of the Company are IIFL Home Finance Limited, IIFL Samasta Finance Limited (Formerly known as Samasta Microfinance Limited), IIHFL Sales Limited and IIFL Open Fintech Private Limited. Widespread Network As of December 31, 2024, the Company has a widespread network of 4,858 branches spanning the length and breadth of the country and the Company (along with its subsidiaries) has a strong workforce of 38,235 employees as of December 31, 2024. Strong Growth As at December 31, 2024 and March 31, 2024, consolidated Assets Under Management were Rs. 71,410.19 Crores and Rs. 78,959.88 Crores respectively. The Company has GNPA of 2.42% and NNPA of 1.01% as a percentage of our consolidated Loan Book as on December 31, 2024. Additionally, as on December 31, 2024, 71.92% of the Company’s consolidated Loan Book is secured with adequate collaterals which helps mitigate risks further.
| Particulars | For the nine months ended December 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
|---|---|---|---|---|
| Assets Under Management (AUM, ₹ cr) | 71,410.19 | 78,959.88 | 64,637.64 | 51,209.79 |
| Cost/income ratio (%) | 51.07% | 44.62% | 42.99% | 39.64% |
| ROA (%) | 0.78% | 3.42% | 3.25% | 2.74% |
| ROE (%) | 2.04% | 18.42% | 19.92% | 20.6% |
| PAT (₹ Cr) | 3,27 | 1,974 | 1,608 | 1,188 |
| Issuer | IIFL Finance Limited |
|---|---|
| Tranche I Issue Opens | Monday, April 07, 2025 |
| Tranche I Issue Closes | Wednesday, April 23, 2025** |
| Registrar to the Issue | MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited) |
| Debenture Trustee | Vardhman Trusteeship Private Limited |
| Allotment in case of oversubscripti on | Full allotment of the NCDs to the applicant on first come first basis up to the date falling 1 (one) day prior to the date of oversubscription to the respective portion and proportionate allotment of NCDs to the Applicants on the date of oversubscription and thereafter in respective portion |
| Issue Price | ₹ 1,000 per NCD |
| Face Value | ₹ 1,000 per NCD |
| Minimum Application | ₹ 10,000/‐ (10 NCD) and in multiple of ₹ 1,000 (1 NCD) thereafter |
| Base Issue | ₹ 100 Crores |
| Option to Retain Oversubscription Amount | ₹400 Crores |
| Tranche I Issue Size | ₹500 Crores |
| Nature of Indebtedness | Secured |
| Credit Ratings | "Crisil AA/Stable" by Crisil Ratings Limited and “[ICRA] AA (Stable)” by ICRA Limited |
| Issuance mode of the instrument | In dematerialised form only |
| Listing On | BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") |
| Depositories | CDSL and NSDL |
| Trading mode of the instrument | Compulsorily in dematerialised form |
** The Tranche I Issue shall remain open for subscription on Working Days from 10:00 a.m. to 5:00 p.m. (Indian Standard Time) during the period as indicated in the Tranche I Prospectus. The Company may, in consultation with the Lead Managers, consider closing the Tranche I Issue on such earlier date or extended date (subject to a minimum period of two working days and a maximum period of ten working days from the date of opening of the Tranche I Issue and subject to not exceeding thirty days from filing the Tranche I Prospectus with ROC including any extensions), as may be decided by the Board of Directors of the Company or Finance Committee thereof, subject to relevant approvals, in accordance with Regulation 33A of the SEBI NCS Regulations. In the event of an early closure or extension of the Tranche I Issue, the Company shall ensure that notice of the same is provided to the prospective investors through an advertisement in all the newspapers or electronic modes such as online newspapers or website of the issuer or the stock exchange in which pre-issue advertisement for opening of the Tranche I Issue has been given on or before such earlier or initial date of Tranche I Issue closure. On the Tranche I Issue Closing Date, the Application Forms will be accepted only between 10:00 a.m. and 3:00 p.m. (Indian Standard Time) and uploaded until 5:00 p.m. (Indian Standard Time) or such extended time as may be permitted by the Stock Exchange. Further, pending mandate requests for bids placed on the last day of bidding will be validated by 5:00 p.m. (Indian Standard Time). on one Working Day post the Tranche I Issue Closing Date or such extended time as may be permitted by the Stock Exchange. For further details please see “General Information” on page 22 of the Tranche I Prospectus
| Series | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6* | Series 7 | Series 8 | Series 9 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Cumulative | Annual | Cumulative | Monthly | Annual | Cumulative | Monthly | Annual | ||||
| Minimum Application | 10,000 (10 NCDs) across all series | ||||||||||||
| Face Value/ Issue Price of NCDs (₹/NCD) | 1,000 | ||||||||||||
| In Multiples of thereafter (₹) | ₹ 1,000 (1 NCD) | ||||||||||||
| Type of instrument | Secured, Redeemable, Non-Convertible Debentures | ||||||||||||
| Tenor (in months) | 15 | 15 | 24 | 24 | 36 | 36 | 36 | 60 | 60 | ||||
| Coupon (% per annum) for NCD Holders in Category I, II, III & IV | 9.00% | NA | 9.30% | NA | 9.35% | 9.75% | NA | 9.60% | 10.25% | ||||
| Effective Yield (per annum) for NCD Holders in Category I, II, III & IV | 9.06% | 9.00% | 9.30% | 9.30% | 9.76% | 9.74% | 9.75% | 10.03% | 10.24% | ||||
| Mode of Interest Payment | Through various modes | ||||||||||||
| Amount (₹ / NCD) on Maturity for NCD Holders in Category I, II, III & IV | ₹ 1,000 | ₹ 1,113.67 | ₹ 1,000 | ₹ 1,194.65 | ₹ 1,000 | ₹ 1,000 | ₹ 1,322.28 | ₹ 1,000 | ₹ 1,000 | ||||
| Maturity / Redemption Date (Months from the Deemed Date of Allotment) | 15 | 15 | 24 | 24 | 36 | 36 | 36 | 60 | 60 | ||||
| Nature of indebtedness | Secured | ||||||||||||
| Put and Call Option | Not Applicable | ||||||||||||
| Series 1 | Annual | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 15 | 9.00% | 9.06% | Through various modes | ₹1,000 | 15 | Secured | Not Applicable |
| Series 2 | Cumulative | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 15 | NA | 9.00% | Through various modes | ₹1,113.67 | 15 | Secured | Not Applicable |
| Series 3 | Annual | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 24 | 9.30% | 9.30% | Through various modes | ₹1,000 | 24 | Secured | Not Applicable |
| Series 4 | Cumulative | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 24 | NA | 9.30% | Through various modes | ₹1,194.65 | 24 | Secured | Not Applicable |
| Series 5 | Monthly | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 36 | 9.35% | 9.76% | Through various modes | ₹1,000 | 36 | Secured | Not Applicable |
| Series 6 | Annual | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 36 | 9.75% | 9.74% | Through various modes | ₹1,000 | 36 | Secured | Not Applicable |
| Series 7 | Cumulative | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 36 | NA | 9.75% | Through various modes | ₹1,322.28 | 36 | Secured | Not Applicable |
| Series 8 | Monthly | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 60 | 9.60% | 10.03% | Through various modes | ₹1,000 | 60 | Secured | Not Applicable |
| Series 9 | Annual | 10,000 (10 NCDs) across all series | 1,000 | ₹ 1,000 (1 NCD) | Secured, Redeemable, Non-Convertible Debentures | 60 | 10.25% | 10.24% | Through various modes | ₹1,000 | 60 | Secured | Not Applicable |
*The Company shall allocate and allot Series VI NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series. Note:
1. With respect to Series where interest is to be paid on an annual basis, relevant interest will be paid on each anniversary of the Deemed Date of Allotment on the face value of the NCDs. The last interest payment under annual Series will be made at the time of redemption of the NCDs.
2. With respect to Series where interest is to be paid on monthly basis, relevant interest will be paid on the first date of every month on the face value of the NCDs. The last interest payment under monthly Series will be made at the time of redemption of the NCDs. For the first interest payment for NCDs under the monthly options, interest from the Deemed Date of Allotment till the last day of the subsequent month will be clubbed and paid on the first day of the month next to that subsequent month.
3. Subject to applicable tax deducted at source, if any.
4. Please refer to Annexure C of the Tranche I Prospectus dated March 29, 2025 for details pertaining to the cash flows of the Company in accordance with the SEBI NCS Master Circular
| Category | Investor type | Allocation |
|---|---|---|
| Category I | Institutional Portion | 20% of the Tranche I Issue Size |
| Category II | Non-Institutional Portion | 20% of the Tranche I Issue Size |
| Category III | High Net Worth Individual Investors Portion | 30% of the Tranche I Issue Size |
| Category IV | Retail Individual Investors Portion | 30% of the Tranche I Issue Size |
Applicants shall apply in this Issue in dematerialized form only, through valid Application Form filled in by the Applicant along with attachment, as applicable. Further, All individual investors applying in public issue through intermediaries (Syndicate members, Registered Stock Brokers, Registrar and Transfer agent and Depository Participants), where the application amount is up to ₹ 5,00,000 shall only use UPI for the purpose of blocking of funds and provide his/ her bank account linked UPI ID in the bid-cum application form submitted with intermediaries and ASBA facility only. For further details refer to the chapter titled “Issue Procedure – How to apply?” on page 174 of the Tranche I Prospectus dated March 29, 2025 available on Company, Lead Managers and Stock Exchanges website.
