Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\nThe UK-based CDC Group backed IIFL Finance will issue\nsecured and unsecured redeemable NCDs, aggregating up to Rs 100 crore, with a\ngreen-shoe option to retain over-subscription up to Rs 900 crore (aggregating\nto a total of Rs 1,000 crore), the company said here at a conference.<\/p>\n\n\n\n
The bonds will offer the highest yield of 10.50 per cent per\nannum for tenor of 69 months. It also offers 10 per cent per annum for short\ntenor of 15 months for the secured category.<\/p>\n\n\n\n
The bonds will offer monthly, quarterly and annual payment\nfrequency along with zero coupon bonds. The other tenor offered is 39 months\nfor secured category.<\/p>\n\n\n\n
“Through our strong physical presence of 1,947 branches\nacross India and a well-diversified portfolio, we are able to meet the credit\nrequirement of various segments of underserved population. The funds raised\nwill help us in expanding our operation in more such areas,” said Monu\nRatra, CEO, IIFL Home Finance.<\/p>\n\n\n\n
Company’s loan assets under management (AUM) is about Rs\n35,000 crore. About 85 of the book is retail – which is focused on small ticket\nloans.<\/p>\n\n\n\n
IIFL Finance said corporates and trusts, which are paying\nonly MAT, can also invest in the bonds, especially 15-month tenor, where the\nrate is very attractive.<\/p>\n\n\n\n
The debt instruments of the company have been rated as\nAA\/stable by Crisil.<\/p>\n\n\n\n
The gross non-performing assets (NPAs) of the company stood\nat 1.9 per cent and net NPA of 0.6 per cent as on date.<\/p>\n\n\n\n
In fiscal ended March 2019, company’s profit after tax grew\nby 55 per cent to Rs 717.4 crore.<\/p>\n\n\n\n
The lead managers to the issue are Edelweiss Financial\nServices Ltd, IIFL Securities Limited, ICICI Securities, and Trust Investment\nAdvisors Private Ltd.<\/p>\n\n\n\n
The NCDs will be listed on the BSE and NSE.<\/p>\n\n\n\n
The bonds would be issued at face value of Rs 1,000 and the\nminimum application size is Rs 10,000 across all categories.<\/p>\n\n\n\n
The public issue opens on August 6, 2019 and closes on\nAugust 30, 2019, with an option of early closure.<\/p>\n\n\n\n
The allotment will be made on first come first served basis, IIFL Finance said.<\/p>\n\n\n\n
About IIFL Finance <\/h4>\n\n\n\n
IIFL Holdings Limited d\/b\/a IIFL and India Infoline is an Indian diversified financial services company headquartered in Mumbai. The organization was founded by Nirmal Jain.
Headquarters<\/strong>: India
Founders<\/strong>: Nirmal Jain, Rajamani Venkataraman<\/p>\n","protected":false},"excerpt":{"rendered":"IIFL Finance to raise up to Rs 1,000 crore through bond issuance to fund business growth of the company. The non-convertible debentures (NCDs) will offer up to 10.5 per cent yield. Daily Current Affairs Quiz 2019 The UK-based CDC Group backed IIFL Finance will issue secured and unsecured redeemable NCDs, aggregating up to Rs 100 […]<\/p>\n","protected":false},"author":13,"featured_media":4563,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[398],"class_list":["post-4562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-iifl"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=4562"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4562\/revisions"}],"predecessor-version":[{"id":4564,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4562\/revisions\/4564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/4563"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=4562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=4562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=4562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}