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India Infoline Finance to raise up to 20B rupees via NCDs

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India Infoline Finance to raise up to 20B rupees via NCDs

India Infoline Finance Ltd. plans to raise up to 20 billion rupees via a public issuance of nonconvertible debentures.

The offering has a base issue size of 2.50 billion rupees, with an option to retain oversubscription of up to 17.5 billion rupees.

The NCDs will be offered with six options with coupons ranging from 9.5% per year to 10.5% per year, and tenors ranging from 39 months to 120 months.

The offering opens Jan. 22 and will close Feb. 20.

The NCDs are proposed to be listed on the BSE and the National Stock Exchange.

India Infoline Finance is a subsidiary of IIFL Holdings Ltd.

As of Jan. 16, US$1 was equivalent to 70.99 Indian rupees.