IIFL Finance (NSE:IIFL, BOM:532636) has received board approval to allot non-convertible debentures worth 500 million Indian rupees on a private placement basis, according to a Monday filing to the Indian stock exchanges.
The company approved the allotment of 5,000 secured redeemable non-convertible debentures of the face value of
100,000 rupees.
The debentures carry a coupon rate of 8.80% per annum and are scheduled to mature on Oct. 07, 2026. They will be listed on the National Stock Exchange of India.
The company's shares were up 3% in recent trade.
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