by Suman Gupta
➢ Effective Yield of up to 9% per annum*
➢ Credit Rating: Crisil AA/ Stable by Crisil Ratings Limited and BWR AA+ (Stable) by Brickwork Ratings
➢ Trading in dematerialized form only
➢ Allotment on first cum first serve basis***
IIFL Finance Limited, is a Non-Banking Financial Company – Middle Layer (“NBFC-ML”) registered with the RBI, today announced the launch of public issue of secured listed redeemable non-convertible debentures (NCDs) of face value of ₹ 1,000 each for an amount up to ₹500 crore (“Base Issue Size”) with a green shoe option of up to ₹1,500 crore, cumulatively aggregating up to ₹ 2,000 crore (“Tranche I Issue Limit”).
The Tranche I Issue has 9 series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, and 60 months with annual, monthly and cumulative interest options. Effective annual interest yield on the NCDs ranges from 8.70% p.a. to 9.00% p.a.**. The funds shall be utilised for onward lending, financing / refinancing the existing indebtedness, and/or debt servicing and general corporate purpose.
The Tranche I Issue is scheduled to open on Tuesday, February 17, 2026 and is scheduled to close on Wednesday, March 4, 2026.
The proposed Tranche I Issue has been rated CRISIL AA/Stable by CRISIL Ratings and BWR AA+ (Stable) by Brickwork Ratings, reflecting a high degree of safety regarding timely servicing of financial obligations and indicating very low credit risk.
Commenting on the issue, Mr. Nirmal Jain, Founder and Managing Director of IIFL Finance, said: “This offering represents what investors expect from IIFL Finance — consistency, discipline and reliability. Over three decades we have built our franchise on strong asset quality and timely servicing of obligations across cycles. The secured, CRISIL AA/Stable rated NCDs provide investors predictable returns with flexibility, backed by a well-capitalised balance sheet and prudent underwriting. We value the trust investors place in us and remain committed to safeguarding it.”
As on December 31, 2025, IIFL Finance reported loan assets under management (AUM) of ₹ 98,336 crore on a consolidated basis. The company continues to maintain strong asset quality, with Gross NonPerforming Asset (NPA) of 1.60% and Net NPA of 0.75% as a percentage of its consolidated Loan Book as on December 31, 2025. Additionally, as on December 31, 2025, 83.61% of the Company’s consolidated Loan Book was secured. On a consolidated basis for Q3 FY26, the company reported a profit after tax (PAT) of ₹501.35 crore, and for the nine months ended FY26 stood at ₹1,193.46 crore.
The Lead Managers to the Issue are Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited, and IIFL Capital Services Limited. The NCDs are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
IIFL Capital Services Limited (formerly known as IIFL Securities Limited) is deemed to be an associate of the Issuer as per the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as amended (Merchant Bankers Regulations). Further, in compliance with the provisions of Regulation 21A and explanation to Regulation 21A of the Merchant Bankers Regulations, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) would be involved only in marketing of the Issue and as per Regulation 25 (3) of SEBI NCS Regulations shall not issue a due diligence certificate.
The NCDs will be issued at a face value of ₹1,000 each, with a minimum application size of ₹10,000 across investor categories.
About IIFL Finance : IIFL Finance’s offerings home loans, gold loans, MSME secured loan, MSME unsecured loan, supply chain finance, micro finance, construction and real estate finance and capital market finance, catering to both retail and corporate clients; Subsidiaries of the Company are IIFL Home Finance Limited, IIFL Samasta Finance Limited (Formerly known as Samasta Microfinance Limited), IIHFL Sales Limited and IIFL Fintech Private Limited (Formerly known as IIFL Open Fintech Private Limited).
