India Infoline Finance NCD issue raises Rs 615 cr

Written by PTI | Mumbai | Updated: Sep 20 2013, 03:20am hrs
India Infoline Finance Ltd (IIFL) today said it has raised Rs 615 crore in the first three days of opening of its non-convertible debentures (NCDs) for subscription.

The company has launched a public issue of secured redeemable NCDs aggregating up to Rs 525 crore, with an option to retain over-subscription up to Rs 525 crore, leading to a total of Rs 1,050 crore.

Out of Rs 615 crore, IIFL has collected Rs 573 crore in the Monthly Income Option plan, a company release said here.

Investors are preferring to opt for the Monthly Income Option of 3 and 5 years. The retail and QIB (qualified institutional buyer) portions have been fully subscribed, it said.

The NCDs have an option of monthly and annual interest payment. The yield works out to 12.68 per cent per annum for the monthly interest option and 12 per cent a year for the annual one.

The issue opened for subscription on September 17 and closes on October 4.