IIFL Samasta bond offer opens on Monday

New Delhi: IIFL Samasta Finance’s maiden retail bond offer that will open for subscription on Monday plans to raise Rs 1,000 crore to fund its business growth.

The fund raised through the public issue of non convertible debentures (NCDs) would be utlised for the purpose of business growth and capital augmentation, IIFL Samasta Finance said in a statement on Sunday. The non-banking microfinance company (NBFC-MFI) will issue bonds, aggregating to Rs 200 crore, with a green shoe option to retain over-subscription of up to Rs 800 crore (aggregating to a total of Rs 1,000 crore).