IIFL home finance to raise Rs 1,000 cr via non-convertible debentures
Real Estate

IIFL home finance to raise Rs 1,000 cr via non-convertible debentures

Retail focussed housing finance company IIFL Home Finance Ltd plans to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs).

The tranche one issue involves a base issue of Rs 100 crore and a greenshoe option of Rs 900 crore aggregating up to Rs 1,000 crore.

The issue will open for subscription on 6 July, and close on 28 July, with an option of early closure or extension.

The NCD has a tenor of 87 months and offers various options for subscription with coupon costs varying from 9.60% to 10% per annum.

The fund will be used for onward lending, financing, and repayment or prepayment of interest and principal of existing borrowings, and the balance will be used for general corporate purposes of the company.

The company's Executive Director and CEO, Monu Ratra said that last year, our asset under management (AUM) increased by 12%. We are optimistic about growth in the following nine months and are looking at a 15% AUM growth in the current year.

As of 31 March, the housing finance company's capital to risky assets ratio (CRAR) - tier I capital was at 19.61%.

The unsecured NCDs have been rated Credit Rating Information Services of India Limited (CRISIL) AA/Stable and Brickwork Ratings (BWR) AA+/ Negative. The NCDs are proposed to be placed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Image Source


Also read: IIFL launches handbook for affordable green housing

Retail focussed housing finance company IIFL Home Finance Ltd plans to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs). The tranche one issue involves a base issue of Rs 100 crore and a greenshoe option of Rs 900 crore aggregating up to Rs 1,000 crore. The issue will open for subscription on 6 July, and close on 28 July, with an option of early closure or extension. The NCD has a tenor of 87 months and offers various options for subscription with coupon costs varying from 9.60% to 10% per annum. The fund will be used for onward lending, financing, and repayment or prepayment of interest and principal of existing borrowings, and the balance will be used for general corporate purposes of the company. The company's Executive Director and CEO, Monu Ratra said that last year, our asset under management (AUM) increased by 12%. We are optimistic about growth in the following nine months and are looking at a 15% AUM growth in the current year. As of 31 March, the housing finance company's capital to risky assets ratio (CRAR) - tier I capital was at 19.61%. The unsecured NCDs have been rated Credit Rating Information Services of India Limited (CRISIL) AA/Stable and Brickwork Ratings (BWR) AA+/ Negative. The NCDs are proposed to be placed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Image Source Also read: IIFL launches handbook for affordable green housing

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?