New Delhi, IIFL Samast Finance, a non-banking microfinance company (NBFC-MFI), plans to raise up to Rs 1,000 crore through a public issue of secured bonds with the aim of capital raising and business growth.
The bond issue will open on June 3 and close on June 14, IIFL Samast Finance said in a statement.
IIFL Samast Finance plans to issue bonds totaling Rs 200 crore, including a green-shoe option to retain over-subscription up to Rs 800 crore.
It claims that IIFL Samasta Bond offers the highest coupon rate of 10.50 per cent per annum for a tenure of 60 months.
NCDs are available in tenures of 24 months, 36 months and 60 months, it said, adding that the frequency of interest payments is available on monthly and annual basis for each series.
Venkatesh N, MD and CEO, IIFL Samast Finance, said the company has a strong physical presence through approximately 1,500 branches and caters to the credit needs of underserved and underserved populations, primarily women entrepreneurs from underprivileged backgrounds.
He said the funds raised will be used to meet the loan demand of more such customers and boost business growth.
IIFL Samast Finance reported net profit of Rs 503 crore for financial year 2023-2024, while loan assets under management grew 34.67 per cent to Rs 14,211 crore.
The bond issue will open on June 3 and close on June 14, IIFL Samast Finance said in a statement.
IIFL Samast Finance plans to issue bonds totaling Rs 200 crore, including a green-shoe option to retain over-subscription up to Rs 800 crore.
It claims that IIFL Samasta Bond offers the highest coupon rate of 10.50 per cent per annum for a tenure of 60 months.
NCDs are available in tenures of 24 months, 36 months and 60 months, it said, adding that the frequency of interest payments is available on monthly and annual basis for each series.
Venkatesh N, MD and CEO, IIFL Samast Finance, said the company has a strong physical presence through approximately 1,500 branches and caters to the credit needs of underserved and underserved populations, primarily women entrepreneurs from underprivileged backgrounds.
He said the funds raised will be used to meet the loan demand of more such customers and boost business growth.
IIFL Samast Finance reported net profit of Rs 503 crore for financial year 2023-2024, while loan assets under management grew 34.67 per cent to Rs 14,211 crore.
