IIFL Samasta Finance, one of India’s largest non-banking microfinance companies, is set to raise up to Rs 1,000 crore through its maiden public issue of secured bonds. The bonds offer a high degree of safety and a coupon rate of 10.50% per annum for tenors of 60 months. The issue will open on December 4, 2023, and close on December 15, 2023. The NBFC-MFI is part of IIFL Finance, one of India’s largest retail-focused NBFCs. The NCDs are available in tenors of 24 months, 36 months, and 60 months, with interest payments available on a monthly and annual basis.
The credit rating is CRISIL AA-/Positive by CRISIL Ratings Limited and Acuite AA|Stable by Acuite Ratings and Research Limited, indicating high safety and low credit risk. IIFL Samasta Finance offers innovative and affordable financial products to women from unbanked sections in India. The lead managers for the issue are JM Financial Limited, IIFL Securities Limited, Nuvama Wealth Management Limited, and Trust Investment Advisors Private Limited.
The NCDs will be listed on the BSE Limited and NSE to provide liquidity to investors. Speaking about it, IIFL Samasta Finance’s MD and CEO Mr. Venkatesh N said, “The funds raised will be used to meet credit demand from more such customers and bolster business growth.”
