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- IIFL Home to issue up to Rs 1,000 cr of retail bonds on Dec 8

IIFL Home to issue up to Rs 1,000 cr of retail bonds on Dec 8
Also read: IIFL home finance to raise Rs 1,000 cr via non-convertible debentures
Also read: IIFL launches handbook for affordable green housing
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IIFL Home Finance has received approval from the market regulator to raise Rs 1,000 crore by selling bonds with a coupon of 8.25-8.75%, according to a company official. A public issue of secured redeemable non-convertible debentures (NCD) will be available for subscription on December 8. The NCDs will be assigned to one of three tenures: 36 months, 60 months and 84 months. The NCDs have a base issue size of Rs 100 crore and the option to retain up to Rs 900 crore in oversubscription. Crisil has given the issue a AA per Stable rating, while Brickwork Ratings has given it an AA+ per Negative rating. This will be the lender's second bond sale this fiscal year. It raised Rs 655 crore in July by issuing unsecured bonds at a rate of 9.6 and 10%. The lender wants to expand into smaller towns, to exceed Rs 25,000 crore in Assets Under Management (AUM) by March 2022. At the end of September, it had an AUM of Rs 21,474 crore, with home loans accounting for nearly three-quarters of that. By the end of this fiscal year, the lender plans to open 100 more offices in tier three and tier four locations. It currently has around 145 offices. IIFL Finance Limited is a major player in India's financial services industry. It offers a wide range of loans and mortgages through its subsidiaries IIFL Home Finance Limited and Samasta Microfinance Limited. Image Source Also read: IIFL home finance to raise Rs 1,000 cr via non-convertible debentures Also read: IIFL launches handbook for affordable green housing