IIFL Samasta Retail Bond Offer Opens Monday: Rs 1,000 Cr Target
Dec 03, 2023 16:52
IIFL Samasta Finance launches its first retail bond offer, aiming to raise Rs 1,000 crore for business growth. The offer opens on Monday, December 3rd, and closes on December 15th.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Dec 3 (PTI) IIFL Samasta Finance's maiden retail bond offer that will open for subscription on Monday plans to raise Rs 1,000 crore to fund its business growth.
The fund raised through the public issue of non convertible debentures (NCDs) would be utlised for the purpose of business growth and capital augmentation, IIFL Samasta Finance said in a statement on Sunday.
The non-banking microfinance company (NBFC-MFI) will issue bonds, aggregating to Rs 200 crore, with a green shoe option to retain over-subscription of up to Rs 800 crore (aggregating to a total of Rs 1,000 crore).
The bonds, which closes for subscription on December 15, propose to offer the highest coupon rate of 10.50 per cent per annum for a tenor of 60 months.
NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly and annual basis for each of the series.
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