Friday , October 22 2021

IIFL Finance gains on planning to raise Rs 1,000 crore via NCDs

IIFL Finance is currently trading at Rs. 276.00, up by 0.70 points or 0.25% from its previous closing of Rs. 275.30 on the BSE.

The scrip opened at Rs. 274.70 and has touched a high and low of Rs. 276.00 and Rs. 267.05 respectively. So far 72279 shares were traded on the counter.

The BSE group ‘A ‘ stock of face value Rs. 2 has touched a 52 week high of Rs. 346.55 on 17-Mar-2021 and a 52 week low of Rs. 74.00 on 30-Oct-2020.

Last one week high and low of the scrip stood at Rs. 287.00 and Rs. 260.40 respectively. The current market cap of the company is Rs. 10368.76 crore.

The promoters holding in the company stood at 24.95%, while Institutions and Non-Institutions held 22.04% and 53.01% respectively.

IIFL Finance is planning to raise up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) of various maturity. The company will issue NCDs aggregating to Rs 100 crore, with a green-shoe option to retain oversubscription up to Rs 900 crore. The bonds are available in tenors of 24 months, 36 months and 60 months. The funds raised will be used for business growth and capital augmentation.

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