India's IIFL Home Finance to raise up to 30 bln rupees via public issue

IIFL Finance

01/10/2024 11:41

MUMBAI, Oct 1 (Reuters) - India's IIFL Home Finance
plans to raise up to 30 billion rupees ($358 million) through a
public issue of bonds, according to a draft shelf prospectus
filed by the company on Tuesday.
    Trust Investment Advisors and IIFL Securities are the lead
managers to the home finance company's issue, which is rated AA
by Crisil and India Ratings.
    The details of the bond issue have not yet been finalised.
    In September, Reuters had reported that IIFL Finance
 IIFL.NS  is planning to raise 100 billion rupees via debt in
October-March period, as the non-bank lender looks to recover
from a recent ban on issuing gold loans.
    In March, Reserve Bank of India had ordered IIFL Finance to
stop sanctioning and disbursing gold loans, citing "material
supervisory concerns". The ban was lifted last month.

($1 = 83.7910 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))