IIFL Home Finance to raise Rs 5,000 crore through NCDs
New Delhi [India], June 22 (ANI): IIFL Home Finance plans to raise up to Rs 5,000 crore through a public issue of non-convertible debentures (NCDs).
The company has filed a draft shelf prospectus with stock exchanges BSE and NSE. The face value of each secured and unsecured NCD will be Rs 1,000 each and will be issued in one or more tranches.
"The NCD issue is for the purpose of onward lending, financing and for repayment/ prepayment of interest and principal of existing borrowings of the company besides general corporate purposes," said IIFL Home Finance in a statement.
Lead managers appointed to the issue are Edelweiss Financial Services, IIFL Securities, ICICI Securities, Trust Investment Advisors and Equirus Capital.
The company's focus is to provide loans for first-time home buyers in economically weaker section and lower income segments across tier 1, tier 2 and tier 3 cities. More than 85 per cent of its housing loans were sourced digitally in FY21.
Under the Pradhan Mantri Awas Yojana's Credit Linked Subsidy Scheme (PMAY-CLSS), IIFL Home Finance helped empower over 43,000 customers with more than Rs 1,000 crore in subsidies till March 31. (ANI)