IIFL Finance NCD Oversubscribed Within First Half of Opening on Feb 17

On Tuesday, February 17, 2026, IIFL Finance announced that the base portion of its secured redeemable non-convertible debenture (NCD) public issue was fully subscribed within the first half of the opening day.

According to data available on BSE Limited, bids worth ₹652 crore were received against the issue shortly after it opened, reflecting robust investor demand.

NCD Issue Size and Structure

The NCD issue has a base size of ₹500 crore and includes a green-shoe option to retain oversubscription of up to ₹1,500 crore, taking the total potential issue size to ₹2,000 crore.

The offer is scheduled to close on March 4, 2026, although the company retains the option to close it earlier in case of strong demand. Allotments will be made on a first-come, first-served basis.

The issue is being managed by Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited, and IIFL Capital Services Limited.

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Yield, Tenor and Credit Ratings

The NCDs offer an effective yield of up to 9% per annum, with tenors of 24 months, 36 months and 60 months. Investors can choose between monthly, annual or cumulative interest payment options.

The debentures have been rated CRISIL AA/Stable by CRISIL Ratings and BWR AA+ (Stable) by Brickwork Ratings, indicating a low credit risk profile.

Each NCD has a face value of ₹1,000, with a minimum application size of ₹10,000. The instruments will be listed on both BSE Limited and the National Stock Exchange of India.

Q3FY26 Financial Performance

IIFL Finance’s home loan portfolio remained stable, with assets under management (AUM) rising 5% year-on-year to ₹31,893 crore, though marginally declining 0.4% quarter-on-quarter, keeping the business broadly on track with its strategic plan. Gold loans emerged as the strongest growth driver, with AUM surging 189% year-on-year and 26% sequentially to ₹43,432 crore, supported by robust growth in gold tonnage and steady asset quality.

 The MSME loan book expanded 17% year-on-year and 4% quarter-on-quarter to ₹10,081 crore, reflecting a calibrated shift towards lower-risk secured lending and a conscious reduction in unsecured exposure. Meanwhile, the microfinance portfolio stood at ₹8,360 crore, declining 19% year-on-year and remaining flat sequentially, amid macroeconomic headwinds affecting unsecured lending segments.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.