IIFL Finance Allots ₹600 Cr Subordinated NCDs and ₹100 Cr Perpetual NCDs
IIFL Finance Limited allotted ₹700 crore in subordinated NCDs and ₹100 crore in perpetual NCDs on December 30, 2025. The subordinated NCDs include ₹300 crore (7-year tenure, 9.25% coupon) and ₹400 crore (10-year tenure, 9.30% coupon). Perpetual NCDs total ₹100 crore with a 9.90% coupon.
The allotment of a substantial amount of debt (₹800 crore) will impact the company's capital structure and funding, which is a significant financial event. This can support future growth but also increases leverage.
The announcement details the allotment of NCDs, which is a standard debt fundraising activity. While it provides capital, it does not inherently indicate a significant positive or negative shift in the company's performance or outlook.
IIFL Finance Limited has announced the allotment of Non-Convertible Debentures (NCDs) on a private placement basis. The Finance Committee of the Board of Directors, in a resolution dated December 30, 2025, approved the issuance.
Under Option A, the company has allotted 30,000 Subordinated, Unsecured, Listed, Rated, Redeemable Non-Convertible Debentures of face value ₹1,00,000 each, aggregating to ₹300 crore (Series D35 - Option A-I Debentures). Additionally, 40,000 Subordinated, Unsecured, Listed, Rated, Redeemable Non-Convertible Debentures of face value ₹1,00,000 each, aggregating to ₹400 crore (Series D35 - Option A-II Debentures), have also been allotted. These debentures have a tenure of 7 years and 10 years respectively, with maturity dates of December 30, 2032, and December 30, 2035. The interest rates are 9.25% p.a. for A-I and 9.30% p.a. for A-II, with monthly interest payments starting January 30, 2026.
Under Option B, the company has allotted 100 Perpetual, Unsecured, Listed, Rated Non-Convertible Debentures of face value ₹1 crore each, aggregating to ₹100 crore (Series PDI-2). These perpetual debentures are subject to a call option after 10 years with RBI approval, and carry an interest rate of 9.90% p.a. with monthly interest payments starting December 30, 2026.
All NCDs are in dematerialised form and are proposed to be listed on the National Stock Exchange of India Limited. The company will pay additional interest of 2% p.a. in case of any default in payment of interest or principal.
What to do with a filing like this
IIFL Finance Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by IIFL Finance Limited. Read the original for the full detail.