IIFL Finance's Finance Committee approved issuance of up to INR 200 crore in perpetual, unsecured, non-convertible debentures on a private placement basis.
The NCDs will be listed on the NSE and are perpetual in nature, with a call option exercisable after 10 years subject to RBI approval.
The issuance comprises up to 200 NCDs, each with a face value of INR 1 crore, and includes a 2% p.a. penalty for delayed payments.