NCD will open today i.e. 6th July and close on 8th July. Under this, NCDs worth Rs 100 crore worth Rs 1000 will be issued. There is also an option of oversubscription of Rs 900 crore with this.
New Delhi. If you want to earn double from FD by taking a little risk. So from today another great option is open for you in the market. From today onwards, IIFL Finance’s Unsecured NCD is open for subscription in the market. The special thing about this unsecured NCD is that 100% interest is being given in it. But it is necessary to invest at least 75 crores in this. While talking on this NCD, IIFL Group Chairman Nirmal Jain and IIFL Home Finance ED and CEO Monu Ratra gave their views. Let’s be the first to know about the unsecured NCD of IIFL FINANCE…
This NCD will open today i.e. 6th July and close on 8th July. Under this, NCDs of Rs 100 crore worth Rs 1000 will be issued. There is also an option of oversubscription of Rs 900 crore with this. It will be necessary to invest at least 75 crores in this NCD, which will get 10 percent interest. 75 per cent of the proceeds from this NCD will be used for lending, financing and the remaining 25 per cent will be used to meet the corporate needs of the company. These NCDs have been given AA stable rating from CRISIL.
Talking on this NCD, the company’s management told CNBC-Awaaz that the size of the issue is Rs 1000 crore. The proceeds from this will be used for Tier-2 capital. Talking on the economy, the company management said that we will see a strong recovery from the current level. In the areas where there will be unlocking, recovery will come here.
In this conversation, the management further said that most of the portfolio in IIFL Home Loan is of home loan. Home loans and gold loans are the major contributors to the entire group. The asset quality of the company is very strong and its net NPA is less than 1 per cent. Asset quality is very strong as compared to PSU banks and NBFCs. Talking on the market, Nirmal Jain said that it is important to focus on asset allocation for investment. Timing the market is very difficult. So don’t try to time the market. Make asset allocation across Equity, Gold, Real Estate and Bank FDs for better returns than the market.
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