I am interested in the forthcoming IIFL Finance NCD issue, can you give me the details of the issue?

Here are the key highlights of the forthcoming NCD issue of IIFL Finance.

1) The issue will open on 27th September 2021 and close for subscription on 18th October 2021.

2) The base size of the issue will be Rs100cr with a Greenshoe option to retain up to Rs900 crore.

3) NCD face value will be Rs.1,000 and investors can apply for a minimum of 10 NCDs and multiples of 1 NCD thereafter.

4) There will be 3 tenure options of 24-months, 36 months and 60 months with annual coupon and cumulative option.

5) The rating is “CRISIL AA/Stable" by CRISIL and "BWR AA+/Negative" by Brickwork, meaning high safety for repayment of interest and principal.

6) The bonds will in compulsory demat form only and listed, so there will be no TDS on the interest deducted

7) A special incentive or bonus coupon scheme is designed for existing investors in IIFL Finance equity or in previous bond issues of IIFL Finance or IIFL Home Finance. The bonus interest will be 0.25% above the coupon rate. For cumulative bonds, the redemption price will be enhanced.