IIFL Samasta to raise Rs 1,000 cr via bonds

IIFL Samasta Finance, a leading non-banking microfinance companies (NBFC-MFI), aims to raise up to Rs1,000 crore through public issue of secured bonds, for the purpose of capital augmentation and business growth. The issue opened on Monday, June 3 and will close on Friday, June 14. The bonds offers acoupon rate of upto 10.50 per centwith a high degree of safety. The bonds, around Rs200 crore with a green-shoe option to retain over-subscription of up to Rs800 crore (aggregating to a total of Rs1,000 crore).

Venkatesh N, IIFL MD and CEO,IIFL Samasta Finance, said: “IIFL Samasta Finance has a strong physical presence of across India through about 1,500 branches. It caters to the credit needs of underserved and unserved population, primarily women entrepreneurs from underprivileged background through a well-diversified portfolio. The funds raised will be used to meet credit demand from more such customers and bolster business growth.”