IIFL Samasta Finance Chief Financial Officer T. Anantha Kumar says the NBFC caters to the credit needs of underserved and unserved population, primarily women entrepreneurs from the underprivileged background.
| Photo Credit: Special Arrangement
IIFL Samasta Finance, a non-banking microfinance company (NBFC-MFI) and part of IIFL Finance, will raise up to ₹1,000 crore through its maiden public issue of secured bonds to meet business growth and capital augmentation requirements.
The bonds offer up to 10.50% interest per annum for a tenure of 60 months. The NCD is available in tenures of 24, 36 and 60 months. The frequency of interest payment is monthly and annual for each of the series.
The base size of the issue is ₹200 crore with a green-shoe option of up to ₹800 crore.
The issue opens on December 4 and closes on December 15. It will be listed on the BSE and NSE. The bonds would be issued at face value of ₹1,000 and the minimum application size is ₹10,000 across all categories.
“IIFL Samasta Finance, which has about 1,500 branches, caters to the credit needs of underserved and unserved population, primarily women entrepreneurs from underprivileged background through a well-diversified portfolio,” said CFO Anantha Kumar during an interaction.