IIFL Finance raises Rs 100 crore through non-convertible debentures

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IIFL Finance on Wednesday said it has raised Rs 100 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

It said NCDs will be listed on the National Stock Exchange (NSE).

"Finance committee of the board of directors of the company... approved allotment of 1,000 NCDs...of face value of Rs 10 lakh each, for cash at par, aggregating to Rs 100 crore, on private placement basis," IIFL Finance said in a regulatory filing.

The NCDs will carry interest rate of 7.7 per cent per annum.

Shares of IIFL Finance were trading 7.08 per cent higher at Rs 268.45 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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