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IIFL Samasta aims to raise Rs 1,000 crore in public bonds
For the proposed public issue, the Bengaluru-headquartered company will sell secured redeemable non-convertible debentures (NCDs) for a base component of Rs 200 crore while it will have a right to retain oversubscription up to Rs 800 crore. The bonds are rated "AA-/Positive" by Crisil Ratings and "AA/Stable" by Acuite Ratings which shows high degree of safety. The bonds will offer 10.50% for a 60-month tenure. For 24 months and 36 months’ maturity, the rates are kept at 9.60% and 10% respectively.