The bonds will be offered through public issue, subject to regulatory and statutory approvals, IIFL Finance said in a regulatory filing.
The board of directors of the company approved the raising of funds by way of the issuance of secured non- convertible debentures with the shelf limit of Rs 50,000 million, in one or more tranches, according to the board of directors at their meeting on June 23, 2022.
IIFL Finance is a non-banking finance company that offers NBFC products such as home loans, gold loans, and business loans, including loans against property and medium small enterprise financing, microfinance, developer and construction finance.
It offers capital market finance, catering to both retail and corporate clients.
Its subsidiaries IIFL Home Finance Ltd and Samasta Microfinance Ltd are engaged in providing a wide range of loans and mortgages.
The NBFC has 3,119 branches in over 500 cities, which has a nationwide presence.
Shares of IIFL Finance were trading at Rs 319.05 apiece on the BSE, up by 1.46 per cent from the previous close.