IFL Finance IPO

IFL Finance Ltd. filed its Draft Red Herring Prospectus (DRHP) with SEBI on July 22, 2026, to raise funds through an Initial Public Offering (IPO). As per publicly available information, this will be a book-built issue of up to 3.85 crore equity shares. It willinclude a fresh issue of up to 3.55 crore shares and an Offer for Sale (OFS) of up to 0.30 crore shares.

The company plans to list its equity shares on both the NSE and BSE. Aryaman Financial Services Ltd. is the book-running lead manager, while Skyline Financial Services Pvt. Ltd. is the registrar to the issue.

IFL Finance IPO Important Dates

Yet to be announced. 

About IFL Finance

IFL Finance Limited is a non-deposit-taking, non-banking financial company (NBFC-ICC) registered with the Reserve Bank of India (RBI). The company was originally incorporated as a housing finance company but shifted its focus in 2025 towards secured retail lending, with gold loans becoming its key business. 

IFL Finance mainly provides loans against collateral to retail borrowers, including self-employed individuals, small business owners, traders and people working in the informal sector who may have limited access to traditional credit. Its main offering is gold loans, while it also continues to provide home loans and loans against property (LAP). 

The company operates through a wide branch network, mainly across Northern and Central India, including Delhi NCR, Rajasthan, Madhya Pradesh, Uttar Pradesh and Haryana. Its branch-led model helps it acquire customers, assess gold and manage collections locally. At the same time, IFL Finance uses technology to improve its operations, including cashless loan disbursements and digital interest payments. 

The company's revenue mainly comes from net interest income, which is the difference between the interest it earns on loans and the cost it pays to borrow funds.

Industry Outlook

1. The NBFC sector is expected to maintain its growth trajectory, with total assets increasing from ₹34.8 trillion in FY2021 to ₹61.1 trillion in FY2025, representing a CAGR of 15.1%. The sector is likely to benefit from continued demand for retail, MSME and niche financing.
2. NBFC credit is estimated to grow by around 15–17% over the next few years, supported by rising demand for retail and MSME loans, expanding digital lending platforms and the ability of NBFCs to offer customised financing solutions.
3. Retail loans by NBFCs increased from ₹13.82 trillion in March 2024 to ₹16.32 trillion in March 2025 and further to ₹18.39 trillion by September 2025. Vehicle loans and gold-backed advances recorded particularly strong growth, highlighting continued demand for secured retail credit.
4. NBFC credit expanded across industry, services and retail segments, with gross advances rising from ₹40.53 trillion in March 2024 to ₹52.06 trillion by September 2025. Continued credit demand across sectors, combined with deeper penetration into underserved markets, is expected to strengthen NBFCs' role in India's overall credit ecosystem.
5. Rapid adoption of digital payments is supporting the broader financial services ecosystem. Digital transaction volumes nearly doubled from 1,139,382 lakh in FY2023 to 2,219,815 lakh in FY2025, enabling NBFCs to expand their reach, streamline loan origination and improve access to formal credit.
6. Government initiatives such as the Pradhan Mantri Jan Dhan Yojana (PMJDY) and the expanding microfinance ecosystem are expected to improve access to formal financial services. NBFCs, particularly those focused on underserved borrowers, can benefit from increasing demand for credit among low-income households, self-employed individuals and micro-entrepreneurs.

IFL Finance IPO Objectives

1. ₹150 crore from the Fresh Issue will be used to augment IFL Finance’s Tier-I capital base, supporting future capital requirements, onward lending, loan book expansion and compliance with RBI capital adequacy requirements. The funds are proposed to be deployed during FY2027.
2. A portion of the Fresh Issue proceeds will be utilised for general corporate purposes, including operational requirements, IT and digitisation investments and administrative expenses. 

Financial Performance of IFL Finance

IFL Finance IPO Peer Comparison

Strengths and Opportunities for IFL Finance

1. IFL Finance’s Gross Loan Portfolio (GLP) increased from ₹279.10 crore in FY24 to ₹520.49 crore in FY26, translating into a two-year CAGR of 36.56%.
2. Gold loans account for 84.77% of the total loan book, providing the company with collateral-backed exposure. Home loans contribute 14.33%, while Loans Against Property (LAP) account for 0.90%.
3. The company reported a Gross NPA of 0.79%, lower than Muthoot Finance at 2.35% and SBFC Finance at 2.61%. Its steady-state credit costs are also relatively low at around 0.2%–0.3%.
4. IFL Finance’s CRAR stood at 33.97%, significantly above the RBI’s minimum requirement of 15%, giving the company a strong capital cushion to support future growth.
5. PAT increased from ₹12.15 crore in FY24 to ₹21.63 crore in FY26, registering a two-year CAGR of 33.37%. The company also reported a RoMA of 5.5%, reflecting healthy returns on its managed assets.
6. The company operates 88 branches across five states/UTs, including Delhi, Haryana, Uttar Pradesh, Rajasthan and Madhya Pradesh, and serves more than 33,000 active borrowers.
7. IFL Finance primarily caters to self-employed individuals, small business owners, traders and informal-sector borrowers who may have limited access to quick credit from traditional banks.
8. The company is led by Chairman and Managing Director CA Gopal Bansal, who has around 20 years of experience in finance, risk management and portfolio management. The promoters have also infused ₹107 crore in equity capital since inception.
9. After surrendering its HFC licence in June 2025, IFL Finance has shifted its focus towards gold loans while allowing its existing housing loan portfolio to run down. The shorter tenure of gold loans can help the company recycle capital faster and potentially improve yields.
10. The proposed ₹150 crore Tier-I capital infusion can provide additional headroom for growing the loan book and expanding the branch network, particularly in Tier-2 and Tier-3 markets.

Risks and Threats for IFL Finance 

1. Gold loans constitute 84.77% of the total loan book, making the company highly sensitive to changes in gold prices, customer demand and RBI regulations on LTV limits.
2. The company operates 88 branches across five states/UTs, with a strong presence in North India, particularly Delhi, Haryana and Uttar Pradesh. Regional economic disruptions could therefore impact operations and loan collections.
3. After surrendering its HFC licence in June 2025, IFL Finance is shifting towards short-tenure gold loans while its housing loan portfolio runs down. Managing this transition and scaling the new business model could pose execution challenges.
4. Incorrect purity assessment, spurious or stolen gold, and theft or loss of pledged jewellery at branches could result in financial losses.
5. The company primarily serves self-employed individuals, traders and small business owners, whose income can be more vulnerable to economic slowdowns than that of salaried borrowers.
6. The company’s growth and strategic direction depend significantly on its promoters and senior management. The loss of key personnel could affect business continuity and execution.
7. Borrowings stood at ₹388.22 crore in FY26, exposing the company to refinancing and interest-rate risks. Higher borrowing costs or difficulty in securing funds could put pressure on liquidity and margins.
8. Increasing reliance on digital systems for loan processing, gold valuation and collections exposes the company to system failures, cyberattacks and potential data breaches.
9. IFL Finance competes with established gold loan NBFCs such as Muthoot Finance and Manappuram Finance, banks and local moneylenders, which could put pressure on pricing, customer acquisition and market share.
10. Changes in RBI regulations covering LTV limits, cash transactions, lending practices and provisioning requirements could increase compliance costs or restrict the company’s operating flexibility. 

IFL Finance IPO Reservation

IFL Finance IPO Promoter Holding

Gopal Bansal, Sunita Bansal and India Finsec are the promoters of the company. 

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

IFL Finance IPO Registrar and Lead Managers

IFL Finance IPO Lead Managers

Aryaman Financial Services Ltd.

Registrar for IFL Finance IPO

Name: Skyline Financial Services Pvt.Ltd. 

Phone: 011-26812682

Email: ipo@skylinerta.com

How To Check the Allotment Status of the IFL Finance IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for IFL Finance IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the IFL Finance IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of IFL Finance IPO

Address: D-16, First Floor, Above ICICI Bank Prashant Vihar, Sector-14, Rohini, North West, Rohini, New Delhi, 110085

Phone No: 1147096097

Email ID: info@iflfinanceltd.com