IIFL Finance

By Dharamraj Dhutia

MUMBAI, July 3 (Reuters) - Indian gold loan financier IIFL Finance IIFL.NS has accepted bids worth $300 million for a four-year social dollar bond, in its second such fundraise in less than a month, two merchant bankers said on Friday.

The non-banking finance company will offer a yield of 7.75% to investors, slightly below the initial price guidance at about 7.85%, the bankers added, requesting anonymity as they are not authorised to speak to the media.

IIFL Finance did not reply to a Reuters email seeking comment.

In early June, IIFL Finance raised $500 million through a sale of social bonds maturing in three years and three months at a coupon of 7.60%.

The latest fundraise would help the non-bank lender diversify its sources of funding, as it aims to increase the share of external borrowings to 20% from around 13% currently.

The notes are secured against the issuer's receivables and assets. The proceeds will be used for lending and business growth, in line with the company's social finance framework.

(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)

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IIFL Finance's finance committee approved the pricing of $300 million in fixed-rate senior secured notes on Wednesday, under the company's existing $1.5 billion Global Medium Term Note programme. The notes carry a coupon of 7.60%, payable semi-annually, and mature on July 10, 2030. They are rated B+ by S&P and Fitch, and Ba3 by Moody's. The issuance will be listed on India International Exchange (IFSC) and NSE IFSC, with proceeds directed towards onward lending and supporting business growth.

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By Dharamraj Dhutia

MUMBAI, July 2 (Reuters) - Indian gold loan financier IIFL Finance IIFL.NS plans to raise $300 million through a four-year dollar bond sale, its second such fundraise in less than a month, two merchant bankers said on Thursday.

The non-banking finance company has set initial price guidance at about 7.85% for the issue, which will mature in four years, the bankers added, requesting anonymity as they are not authorised to speak to the media.

IIFL Finance did not reply to a Reuters email seeking comment.

The coupon on the issue is expected to be finalised by the end of Friday, the bankers added.

In early June, IIFL Finance raised $500 million through a sale of bonds maturing in three years and three months at a coupon of 7.60%.

The latest fundraise would help the non-bank lender diversify its sources of funding, as it aims to increase the share of external borrowings to 20% from around 13% currently.

The notes are secured against the issuer's receivables and assets. The proceeds will be used for lending and business growth, in line with the company's social finance framework.

(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)

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IIFL Finance's board approved an enabling resolution to raise up to ₹10,000 crore through equity or other securities, the company informed exchanges on Saturday. The resolution, which requires shareholder approval at the upcoming annual general meeting, allows for issuance via public offers, rights issues, preferential allotments, or qualified institutional placements. The board also approved doubling its Global Medium Term Note programme from $1 billion to $2 billion and enhanced the company's borrowing limit from ₹60,000 crore to ₹75,000 crore. Separately, Kapish Jain stepped down as chief financial officer to transition into a chief strategy role, with Vikas Jain, formerly CFO of Hinduja Leyland Finance, appointed as the new CFO effective June 27.

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June 22 (Reuters) - IIFL Finance Ltd IIFL.NS:

• IIFL FINANCE - TO CONSIDER FUNDRAISING VIA EQUITY OR OTHER SECURITIES

Source text: ID:nBSE5SzzD9

Further company coverage: IIFL.NS

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By Dharamraj Dhutia

MUMBAI, June 3 (Reuters) - Indian gold loan financier IIFL Finance IIFL.NS has proceeded with its dollar-bond fundraising plan and invited commitments from global investors, with pricing set to be finalised before the end of the week, two sources said on Wednesday.

Here are more details:

• IIFL Finance plans to raise at least $400 million through this issue, which carries a maturity of three years and three months, the sources said.

• It has received bidding interest worth around $1 billion at a coupon of around 7.60%, which is 30 basis points lower than the initial price guidance of 7.90%, the sources added.

• The sources requested anonymity as they are not authorised to speak to the media. IIFL Finance did not immediately respond to a Reuters email seeking comment.

• The fundraise would help the non-bank lender diversify its sources of funding, as it aims to increase the share of external borrowings to 20% from around 13% currently.

• The company had shelved its planned overseas borrowing in March as the U.S.-Iran war pushed up yields globally.

• The notes are secured against the issuer's receivables and assets and the proceeds will be used for lending in line with IIFL's social finance framework.

• Fitch Ratings has assigned an expected rating of B+(EXP) to the issue and these notes will be secured by collateral that includes specified assets and receivables of the issuer, Fitch said.

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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By Dharamraj Dhutia

MUMBAI, May 5 (Reuters) - Indian gold loan financier IIFL Finance IIFL.NS has revived a dollar-bond fundraise plan, and will start meeting investors this week, two sources aware of the matter said on Tuesday.

The fundraise would help the non-bank lender diversify its sources of funding, as the lender aims to increase the share of external borrowings to 20% from around 13% currently.

IIFL Finance had shelved a planned overseas borrowing in March as the Iran war pushed up bond yields globally.

"The company is planning to raise as much as $750 million through three-year dollar bonds, and would meet potential investors through a non-deal roadshow," one of the sources said.

Rates have stabilised and the company wants to know the expectations of investors, the second source said. "If all goes well, they would immediately announce the issue."

The sources requested anonymity as the matter is still private. IIFL Finance did not immediately respond to a Reuters email seeking comment.

The firm, which also lends money for home purchases and gives out secured business loans, had assets of 490.27 billion rupees ($5.15 billion) as of December 31, with gold loans making up 89% and unsecured loans 8%.

($1 = 95.2800 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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April 23 (Reuters) - IIFL Finance Ltd IIFL.NS:

• IIFL FINANCE LTD - TO CONSIDER FUNDRAISING VIA NON-CONVERTIBLE SECURITIES IN FY2026-27

Source text: ID:nBSE29TvCM

Further company coverage: IIFL.NS

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March 30 (Reuters) - IIFL Finance Ltd IIFL.NS:

• SPECIAL AUDIT DIRECTED BY TAX DEPARTMENT HAS BEEN CONCLUDED

• WORKING TOWARDS EXPEDITIOUS COMPLETION OF ONGOING BLOCK ASSESSMENT PROCEEDINGS

Source text: ID:nBSE4Ksrqj

Further company coverage: IIFL.NS

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Adds details on structure, background in paragraphs 6-7, 13-16

By Vibhuti Sharma, Jayshree P Upadhyay and Aditya Kalra

MUMBAI, March 18 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms has hired 17 banks to manage its Mumbai stock listing, which will see the company raise no new funds and allow exits for some shareholders, four sources familiar with the matter said.

The IPO will be executed as a so-called "offer for sale" in India, three of the sources said, where only existing shareholders sell their shares to the public.

Reliance did not respond to Reuters queries.

"We don't need new money," said one of the sources, explaining the decision not to raise funds from the IPO.

Over the past six years, Jio has diversified into AI and raised funds from investors including KKR KKR.N, General Atlantic, Silver Lake and the Abu Dhabi Investment Authority.

The offer-for-sale route is increasingly becoming a lucrative exit route for global investors and how large IPOs are executed in India. Other recent IPOs via this route included the 2024 listing of Hyundai Motor HYUN.NS and LG Electronics India LGEL.NS in 2025.

In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion.

LONG LIST OF INVESTMENT BANKS

The hiring of banks brings the parent of India's largest telecom operator Reliance Jio, with over 500 million users, closer to being possibly the country's largest IPO worth more than $4 billion.

Jio's roster of 17 advisors includes Wall Street giants Citigroup C.N and JPMorgan JPM.N, and Indian investment banks Axis Capital, ICICI Securities, IIFL IIFL.NS, and Kotak Mahindra Capital, said two of the sources, who added that the plan is to file for regulatory approval this month.

Other banks on the list include the securities arms of Goldman Sachs GS.N, Morgan Stanley MS.N and Bank of America BAC.N, they added.

Goldman Sachs and Bank of America declined to comment. The other investment banks did not respond to requests for comment.

The news on hiring of banks and prospectus filing timeline for Jio's listing come as the Mideast conflict has cast a cloud over global capital market deals, with a handful getting pulled.

Strong IPO momentum in India, however, seems intact with the largest exchange operator, the National Stock Exchange of India, saying last week it had hired 20 banks to manage its IPO.

It's not unusual for a large number of banks to vie for a mandate and get hired for large equity public offerings of private enterprises, as they compete for league table credit in a market where deals exceeding a billion dollars are rare.

In the country's largest-ever IPO mandate, 18 investment banks were involved in the public offering of shares by asset manager ICICI Prudential AMC in 2025, which saw a share sale of $1.2 billion.

(Reporting by Vibhuti Sharma and Jayshree P Upadhyay in Mumbai and Aditya Kalra in Delhi; Editing by Sumeet Chatterjee, Joe Bavier and Bernadette Baum)

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March 12 (Reuters) - Central Bank of India Ltd CBI.NS:

• CENTRAL BANK OF INDIA LTD - ENTERED INTO CO-LENDING ARRANGEMENT WITH IIFL FINANCE

Source text: ID:nNSE9s95lp

Further company coverage: CBI.NS

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MUMBAI, March 9 (Reuters) - India's IIFL Finance IIFL.NS accepted bids worth 5 billion rupees ($54.20 million) for the sale of bonds maturing in one year and 15 days, three bankers said on Monday.

It will pay a coupon of 8.60% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on March 9:

*Size includes base plus greenshoe for some issues

($1 = 92.2460 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Ronojoy Mazumdar)

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By Gopika Gopakumar and Dharamraj Dhutia

MUMBAI, March 2 (Reuters) - Indian gold loan financier IIFL Finance IIFL.NS plans to raise as much as $750 million through a combination of debut dollar-denominated social bonds and an overseas loan in March, two banking sources and a company source aware of the matter said on Monday.

"The break-up of the quantum has not been finalised yet, but the total fundraise could be anywhere between $500 million and $750 million," a banker familiar with the matter said.

"The tenor of the bond as well as the loan would be between three years and five years."

The sources requested anonymity as they are not authorised to speak to media, while the company did not immediately respond to a Reuters email seeking comment sent on Monday.

In January, Nirmal Jain, managing director at IIFL Finance, had said the company plans to raise approximately 40-50 billion rupees ($438-$547 million) through external commercial borrowings over the next six months, potentially through multiple bilateral transactions.

"Our broader strategy is to gradually diversify our funding mix, with foreign currency borrowings including ECBs or dollar bonds forming around 20% of total borrowings over time, while retaining flexibility based on market opportunities," Jain told Reuters.

A social bond is a debenture with ring-fenced proceeds, meaning the funds raised must be used solely to finance or refinance projects that deliver clear, measurable social outcomes.

The company has already received the certification for issuing social bonds and is in talks with foreign lenders globally to go ahead with its plan before the end of this financial year, the banker said.

One of the use-of-proceeds for funds raised through the social bond will be lending to women entrepreneurs, the banker added.

IIFL Finance provides gold loans, home loans, affordable housing loans and secured business loans, among others. Its AUM stood at 490.27 billion rupees as on December 31, sharply higher than 275.08 billion rupees at the end of March 2025.

As on December, gold loans constituted 89% of AUM, followed by unsecured loans at 8%.

The fundraises help IIFL Finance will diversify its sources of funding, improve resilience and help drive business growth, Jain added in conversation with Reuters in January.

Currently, the company is also in the process of raising 20 billion rupees through its biggest ever rupee public issue.

($1 = 91.4300 Indian rupees)

(Reporting by Gopika Gopakumar and Dharamraj Dhutia; Editing by Ronojoy Mazumdar)

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Feb 24 (Reuters) - IIFL Finance Ltd IIFL.NS:

• APPROVED TERMS AND CONDITIONS OF ISSUANCE OF NON-CONVERTIBLE DEBENTURES

• ISSUE SIZE UP TO 10 BILLION RUPEES WITH GREEN SHOE OPTION

Source text: ID:nBSE9vtvds

Further company coverage: IIFL.NS

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By Khushi Malhotra and Dharamraj Dhutia

MUMBAI, Feb 11 (Reuters) - India's IIFL Finance (IIFL.NS) is set to launch its largest-ever public bond issue of 20 billion rupees ($220.60 million), its second such offering this financial year, a company official and two sources familiar with the matter told Reuters on Wednesday.

The Fairfax-backed non-banking finance company will issue bonds maturing in two years, three years and five years, with annual, monthly, and end-of-term interest payment options, according to the sources.

The company will pay an annual coupon of 8.70% on two-year bonds and 8.85% on three-year papers. It will pay 9.00% for the five-year debt.

Nirmal Jain, managing director at IIFL Finance, confirmed the details of the public bond issue and said the company aims to diversify its funding sources and expects demand for public bonds to rise.

These bonds have been assigned a rating of AA by Crisil Ratings and AA+ by Brickwork Ratings.

IIFL Capital Services, Nuvama Wealth Management and Trust Investment Advisors are the lead managers for the issue, which is likely to open for subscription next week, one of the sources said.

"The proceeds from the fundraise will be utilised for onward lending, refinancing of existing borrowings and general corporate purposes," they said.

The sources requested anonymity as they are not authorised to speak to the media.

In April 2025, the company had raised 5 billion rupees through a similar issue.

Public bonds have been picking up in India, with Indian companies raising around 71 billion rupees through public issue of bonds in the first nine months of this fiscal year, according to the Securities and Exchange Board of India.

($1 = 90.6630 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Janane Venkatraman)

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** Shares of IIFL Finance IIFL.NS falls as much as 18% to a near three-month low of 511.15 rupees, last down 14.9%

** Co gets order from Income Tax Department directing IIFL to get its accounts audited for a specified block period

** Co also gets two tax orders from Bihar and one order from Gujarat tax department imposing combined penalty of 132.7 million rupees ($1.45 million)

** Meanwhile, the non-bank finance co's Q3 consol net PAT jumps 10-fold to 4.64 billion rupees; total rev from ops rises 40% y/y

** More than 24 million shares exchange hands vs 1.47 million 30-day avg vol

** IIFL rose 47.6% in 2025

($1 = 91.6520 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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BENGALURU, Oct 30 (Reuters) - India's IIFL Home Finance on Thursday appointed former PNB Housing PNBH.NS chief Girish Kousgi as managing director and chief executive officer.

(Reporting by Nishit Navin; Editing by Harikrishnan Nair)

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MUMBAI, June 20 (Reuters) - India's IIFL Finance IIFL.NS plans to raise 6 billion rupees ($69.30 million), including a greenshoe option of 4.50 billion rupees, through the sale of bonds maturing in seven years and 10 years, three bankers said on Friday.

The company has invited bids from bankers and investors on Monday, they said.

IIFL Finance did not immediately respond to a Reuters request for comment.

Here is the list of deals reported so far on June 20:

*Size includes base plus greenshoe for some issues

($1 = 86.5860 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)

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June 16 (Reuters) - IIFL Finance Ltd IIFL.NS:

• B.P. KANUNGO JOINS BOARD OF IIFL FINANCE

Source text: ID:nnAZN3ZJJCP

Further company coverage: IIFL.NS

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** Gold financiers Manappuram Finance MNFL.NS up 1.5%, Muthoot Finance MUTT.NS rises nearly 2.5% and IIFL Finance IIFL.NS gains 3.6%

** MUTT, MNFL extend record high levels, IIFL at highest level since Nov 6

** RBI on Friday relaxed norms for small-ticket loans

** Gold loan rules remove overhang of possible impact on loan growth on financiers as previously proposed draft had tighter norms - Jefferies

** Jefferies picks MUTT as top bet in gold lending space

** YTD - MNFL up 34%, MUTT gains 17.5% YTD, and IIFL rises 12% YTD

(Reporting by Sethuraman NR)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Indian gold financiers jump

** Manappuram Finance MNFL.NS up ~3%, while Muthoot Finance MUTT.NS and IIFL Finance IIFL.NS jump ~7% and ~5%, respectively

** Reserve Bank of India will finalise regulations on gold loans by early next week, chief Sanjay Malhotra says

** Adds aims to increase loan-to-value ratio to 85% from 75% currently for loans below 250,000 rupees ($2,916)

** Loan-to-value ratio compares the loan amount to the asset's value

** The proposal of a higher LTV is a big positive and will boost credit growth for gold lenders, especially Muthoot and Manappuram, says Elara Securities analyst Shweta Daptardar

** No credit appraisals required for loans up to 250,000 rupees also positive for these lenders with minimal disruption to existing operational systems, Daptardar adds

** On an avg, MUTT is rated "buy", MNFL "hold" and IIFL "strong buy" - data compiled by LSEG

** YTD MUTT up 14%, MNFL up 28% and IIFL 8% higher

($1 = 85.7180 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Indian gold loan financiers up between 2% to 8%

** Federal finance ministry seeks relaxation in the new rules on gold loans proposed by the central bank

** Muthoot Finance MUTT.NS up 7.59%, Manappuram Finance MNFL.NS up 3.1% and IIFL Finance up IIFL.NS up 2.16%

** Central bank, in April, proposed tighter rules for monitoring and disbursement of gold loans, often used by low income borrowers

** Finance Ministry proposes small ticket borrowers below 200,000 rupees ($2344.05) should be excluded from the tighter rules to ensure speedy disbursements

** Final rules by central bank yet to be issued as it seeks comments

** MUTT said in mid-May that the proposed central bank regulations could drive borrowers away from formal lenders to unregulated players

(Reporting by Ananta Agarwal in Bengaluru)

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May 2 (Reuters) - IIFL Finance Ltd IIFL.NS:

• IIFL FINANCE LTD - TO CONSIDER ISSUANCE OF NON-CONVERTIBLE SECURITIES IN FY 2025-26

Source text: ID:nBSE8nxQZc

Further company coverage: IIFL.NS

(([email protected];))

** Gold loan providers Muthoot Finance MUTT.NS and IIFL Finance IIFL.NS extend losses from Wednesday, losing 6% and 1.2% respectively; markets shut on Thursday

** Manappuram Finance MNFL.NS inches up 0.2%

** India's central bank proposed stricter rules for gold loan providers on Wednesday, including cap of 75% on loan-to-value ratio, standardised procedure to assess gold purity, rules on collateral management

** Kotak Institutional Equities downgrades MUTT to 'ADD' from 'BUY', moderating growth and margin assumptions

** Says it expects overhang of regulatory changes to temper stock performance

** Macquarie says LTV rules could reduce effective LTV of product given buffers needed for gold price fluctuations, interest payments, while new rules on collateral management could hit potential demand

** Muthoot Finance fell 6.7%, IIFL Finance lose 2.5%, Manappuram Finance declined 1.8% on Wednesday after RBI proposal

** Broader market .NSEI climbs 1.6% on Friday on U.S. tariff reprieve .BO

(Reporting by Chris Thomas in Bengaluru)

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April 10 (Reuters) - IIFL Finance Ltd IIFL.NS:

• IIFL FINANCE - CO'S NCD ISSUE OVERSUBSCRIBED 4.75 TIMES, PLANS EARLY CLOSURE

• IIFL FINANCE - CO'S NCD ISSUE TO CLOSE ON APRIL 11 DUE TO OVERSUBCRIPTION

Further company coverage: IIFL.NS

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Updates

** Shares of Indian gold loan providers trim losses; Muthoot Finance MUTT.NS down 4.8%, IIFL Finance IIFL.NS down 2.5% and Manappuram Finance MNFL.NS dip 1.5%

** Reserve Bank Of India governor on Wednesday clarified that central bank is not looking to tighten gold loan rules

** In the monetary policy address on Wednesday, RBI chief had said that the central bank will issue comprehensive regulations on prudential norms and conduct-related aspects for gold loan providers

** MUTT fell as much as 12% after monetary policy speech, while IIFL lost as much as 8.3%

** Reuters reported last month that RBI plans to ask lenders to follow stricter underwriting processes for gold loans

** MUTT up 2.6% YTD, IIFL down 21% YTD.

** YTD, MNFL up 20%

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]/))

** Indian equities set for inflows of up to $1.4 billion on Friday as FTSE March semi-annual rebalancing to come into effect, per analysts

** ICICI Bank ICBK.NS will be the biggest beneficiary, to see inflows worth $426.9 million from weight increases by FTSE, MSCI and BSE, says IIFL

** Large inflows in ICBK due to merger between bank and ICICI Securities ICCI.NS, whose shares will trade for the last time on Friday

** ICCI shareholders to get 67 ICBK shares per 100 shares of ICCI

** Kotak Mahindra Bank KTKM.NS to see $146 million inflows as FTSE increases weight, says Nuvama

** FTSE adds 360 ONE WAM ONEW.NS, Bajaj Housing Finance BAJO.NS, BSE BSEL.NS and other stocks to FTSE All World Index

** Stocks that might see inflows due to FTSE rebalancing include Zomato ZOMT.NS, ITC Hotels ITCT.NS, Gland Pharma GLAD.NS and BAJO

(Reporting by Vivek Kumar M)

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MUMBAI, March 19 (Reuters) - India's IIFL Finance IIFL.NS plans to raise 6 billion rupees ($69 million), which includes a greenshoe option of 2 billion rupees, selling bonds maturing in 13 months, three bankers said on Wednesday.

The company has invited bids from bankers and investors later in the day, they said.

The company did not immediately respond to a Reuters request for comment.

Here is the list of deals reported so far on March 19:

*Size includes base plus greenshoe for some issues

($1 = 86.6260 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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March 10 (Reuters) - IIFL Finance Ltd IIFL.NS:

• IIFL FINANCE LTD - TO HOLD MEETING ON MARCH 13 TO APPROVE NCD ISSUANCE TERMS

Source text: ID:nBSE1YwhLd

Further company coverage: IIFL.NS

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