Lucknow: Leading non-banking financial company (NBFC) IIFL Finance Limited has announced the public issue of secured, redeemable non-convertible debentures (NCDs) aggregating up to ₹2,000 crore. The issue will open for subscription on February 17, 2026, with a base size of ₹500 crore and a green-shoe option to retain oversubscription of up to ₹1,500 crore, taking the total issue size to ₹2,000 crore.
The funds raised through the issue will be utilized to support business growth and augment the company’s capital base. The NCDs offer an effective annual yield of up to 9 percent and are available in tenures of 24 months, 36 months, and 60 months. Investors can choose interest payout options on a monthly, annual, or cumulative (on maturity) basis.
The issue has received a ‘CRISIL AA/Stable’ rating from CRISIL Ratings and a ‘BWR AA+ (Stable)’ rating from Brickwork Ratings, indicating low credit risk and a high degree of safety regarding timely servicing of financial obligations.
Nirmal Jain, Founder and Managing Director of IIFL Finance, stated that the company remains one of India’s leading NBFCs with a strong nationwide presence. He highlighted that its diversified retail portfolio serves over 4.6 million underserved customers across the country. “Through this proposed fundraise, we aim to further expand credit availability and diversify our funding sources. Over the years, IIFL Finance has built a strong track record of raising funds through bonds and ensuring timely payment of principal and interest,” he said.
As of December 31, 2025, IIFL Finance reported consolidated loan assets under management (AUM) of ₹98,336 crore. The company has maintained strong asset quality, with gross non-performing assets (GNPA) at 1.60 percent and net NPA at 0.75 percent of its consolidated loan book. Additionally, 83.61 percent of the consolidated loan book was backed by adequate collateral, reducing overall risk exposure.
For the third quarter of FY2026, the company posted a profit after tax (PAT) of ₹501.3 crore, reflecting a year-on-year growth of 514 percent. For the nine months ended FY2026, PAT stood at ₹1,193.5 crore, up 265 percent year-on-year. The company maintains strong relationships with banks and financial institutions, supporting its overall funding strategy.
As of December 31, 2025, IIFL Finance operated a network of 4,761 branches across India, employing 36,786 people on a consolidated basis.
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 the National Stock Exchange of India to provide liquidity to investors.
Each NCD carries a face value of ₹1,000, with a minimum application size of ₹10,000 across categories. The public issue will close on March 4, 2026, with an option for early closure, and allotment will be made on a first-come, first-served basis.
Addressing a press conference in Lucknow, Astad Kolah, Regional Head (Gold Loan), said that IIFL Finance currently operates around 200 gold loan branches across Uttar Pradesh, Bihar, and Jharkhand. He added that all branches are digitally enabled, with a significant presence in smaller towns, and the company plans to double its branch network in these three states in the near future.
