IIFL Finance NCD: Tranche Detail

IIFL Finance has launched its latest secured, redeemable, non-convertible debenture (NCD) issue under a ₹2,000 crore shelf prospectus. Interest rates are going up to 9% per annum, and AA-rated companies. The issue is beneficial for income-focused investors seeking predictable returns. The IIFL Finance  NCD issue opens on 17th Feb, 2026 and closes on 4th March, 2026. The NCD issue offers annual interest rates of 8.37% to 9.00%, depending on the selected series and investment tenure.        

Each NCD is offered at a face value of ₹1,000, and investors must invest a minimum of ₹10,000, which is equivalent to 10 NCDs. The debentures are proposed to be listed on the BSE and the NSE, and allotment will be made on a First Come First Serve (FCFS) basis. Refer to the table below for IIFL Finance  NCD Details and timelines.   

IIFL Finance: NCD Details 

IIFL Finance: Coupon Rates 

The coupon rate is the fixed annual interest rate an investor earns on NCDs, expressed as a percentage of the face value. In this issue, coupon rates vary by series, NCD tenure, and interest payment frequency.  

Interest Payment Frequency 

• Monthly: Investors receive interest payouts every month.
• Annual: Interest is paid once a year.
• Cumulative: No periodic payouts; interest is compounded and paid at maturity. 

Here is the table for NCD Coupon Rates: 

NCD Rating: 

IIFL Finance NCD Rating given as follows: 

About IIFL Finance Limited

IIFL Finance was founded in 1995. IIFL Finance Limited, previously known as India Infoline Finance Limited, is a diversified non-banking financial company with its headquarters in Mumbai, India. The company provides a broad spectrum of financial services, such as home loans, gold loans, business loans, microfinance, and loans against securities. IIFL Finance has a presence with more than 1,000 branches spread across India, with a workforce exceeding 10,500 people. The company mainly caters to the retail and micro, small, and medium-scale enterprises (MSMEs) segment, with a focus on delivering accessible and flexible financial solutions. Over the years, IIFL Finance has established a global footprint with operations in Canada, the United States, the United Kingdom, Singapore, Hong Kong, and the United Arab Emirates. In addition, the company has received backing from prominent investors such as Fairfax Financial Holdings, General Atlantic, and the UK government’s CDC Group.

Pros of IIFL Finance NCD:  

1. The company has higher fixed interest rate
2. The company has a regular income. 
3. The company has listed on the exchange. 

Cons of IIFL Finance NCD: 

1. The company has risk on credit 
2. The company has risk on Interest rate 
3. The company has interest on tax.

IIFL Finance Limited Financial Information (Consolidated)

The 

Explanation: 

IIFL Finance Limited revenue increased by 24.19% from ₹8,447.11 crores in March 2023 to ₹10,490.47 crores in March 2024. Moreover, the company’s PAT increased by 22.80% from ₹1,607.55 crores in March 2023 to ₹1,974.22 crores in March 2024.

NCD Allocation: 

Explanation: 

The table shows that out of the total 50,00,000 shares offered in the IPO, 35% (17,50,000 shares) are allocated to HNIs, 30% (15,00,000 shares) to Non-Institutional Investors, 20% (10,00,000 shares) to Institutional Investors, and 15% (7,50,000 shares) to Retail Investors. This means a larger portion of the issue is reserved for big investors compared to retail investors.

• Objectives of the Issue: 

The primary aim of IIFL Finance is to raise ₹2,000.00 crores. On the other hand, IIFL Finance has decided to utilise these funds in different ways.

• Onward lending, financing, and refinancing the existing indebtedness of the company (payment of the interest and/or repayment /prepayment of the principal of borrowings), and
• To General Corporate Purposes

How to Apply for IIFL Finance NCD: 

• Login to the Univest app or website.
• Go to the IPO/NCD section under investments.
• Select the IIFL Finance NCD issue from the open offers list.
• Choose your preferred series (tenure & interest option).
• Enter the investment amount (minimum usually ₹10,000 and in multiples of ₹1,000).
• Fill in your Demat details and select UPI/ASBA as the payment method.
• Approve the UPI mandate in your banking app to block funds.
• After allotment, the NCDs will be credited to your Demat account and listed on the exchange.

Here is a steps you must follow to apply for IIFL Finance NCD: 

1. Ensure You Have a Demat Account: Ensure you have an active Demat account, as NCDs are allotted in dematerialised form.

2. Choose Your Application Route: Log in to your stock broker or investment platform (such as your trading app or bank).

3. Payment Method: Select the payment method (UPI/ASBA) and submit the application.

4. Confirmation and Allotment: After allotment, the NCDs will be credited to your Demat account and listed on the exchange.

Challenges Related to IIFL Finance NCD: 

1. The company has a credit risk
2. The company has interest rate risk
3. The company has a liquidity risk

IIFL Finance :  Non-Convertible Debenture (NCD) Peer Comparison 

Here’s a peer comparison table of the IIFL Finance  NCD issue against other recent or notable NCDs from similar financial companies in India. This gives you a snapshot of key parameters, including coupon rates, tenure, and credit quality, for up to 5 years. 

Expert Recommendations for IIFL Finance  

This is IIFL’s sixth debt issue since March 2021. The previous NCD was launched in April 2025. After facing pressure in FY25, the company showed recovery in its 9M FY26 performance. However, compared to earlier issues, the coupon rates have been slightly reduced. Investors seeking steady, medium-to-long-term income may consider allocating funds, especially if comfortable with NBFC-sector exposure.

Company Contact Information: 

Corporate Office:

802, 8th Floor, Hubtown Solaris,

N. S. Phadke Marg, Vijay Nagar,

Andheri East, Mumbai – 400069, India

Email: shareholders@iifl.com 

Registered Office:

IIFL House, Sun Infotech Park,

Road No. 16V, Plot No. B-23,

Thane Industrial Area, Wagle Estate,

Thane – 400604, India

📞 Tel: +91-22-4103-5000

📠 Fax: +91-22-2580-6654

Let’s Wrap 

The purpose of the IIFL Finance NCD issue is to mobilize funds (as indicated in the issue size specified in the prospectus) to facilitate business expansion and general corporate purposes. The IIFL Finance NCDs will be listed on stock exchanges such as BSE & NSE Limited, with the listing date specified in the official schedule.

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