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Invest in Public Issue

IIFL Finance Limited


Opening Date

Feb 17, 2026

Closing Date

Mar 04, 2026

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Allotment

First Come
First Serve

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Credit Rating

Crisil AA/Stable Crisil Ratings Limited

BWR AA+/Stable Brickwork Ratings India Private Limited

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Base Issue

₹500 Crores

Greenshoe

₹1,500 Crores

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Highest Yield

9.00%

Min. Investment

₹10,000

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Issue Details

Essentials

Issue price

₹1,000

Face Value

₹1,000/ NCD

Issue Size

₹2,000 Crores

Minimum Investment

₹10,000 (10 NCDs)

Rating

Crisil AA/Stable Crisil Ratings Limited

Listing on

BSE

Issue Opening Date

Feb 17, 2026

Issue Closing Date

Mar 04, 2026

Mode of Issue

Public Issue

Registrar

MUFG Intime India Private Limited

Mode of allotment and Trading

Dematerialized

About the Issuer

IIFL Finance Limited incorporated on March 6, 2020, is a diversified retail-focused lending franchise catering to under-banked and emerging segments across India. The Company offers a comprehensive suite of products including Home Loans, Gold Loans, MSME (Secured & Unsecured) Loans, Supply Chain Finance, Microfinance, Construction & Real Estate Finance, and Capital Market Finance, serving both retail and corporate customers. Over the years, IIFL Finance has strategically diversified its portfolio, leveraging technology-driven underwriting and strong risk management to build a granular and high-quality retail asset base.

Competitive Strengths

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Consistently Strong Asset Quality with Low NPAs

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Robust Digital-First Systems

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Established Brand & Experienced Leadership

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Diversified Customer Centric Portfolio

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Diversified Funding & Strong Credit

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Strong Phygital Distribution Network

Objectives for IPO Issue

For the purpose of Working Capital–- 75% of the amount raised and allotted in the Issue

For General Corporate Purposes–- 25% of the amount raised and allotted in the Issue

Source: Invest only after referring to the Prospectus dated February 12, 2026

Disclaimer: Invest only after referring to the Prospectus dated February 12, 2026

Available Bonds Options

Series I II III IV V VI VII VIII IX
Nature
Secured Secured Secured Secured Secured Secured Secured Secured Secured
Frequency of Interest Payment
Monthly Monthly Monthly Annual Annual Annual Cumulative Cumulative Cumulative
Face Value of NCDs (₹ /NCD)
₹ 1000 (1 NCD) ₹ 1000 (1 NCD) ₹ 1000 (1 NCD) ₹ 1000 (1 NCD) ₹ 1000 (1 NCD) ₹ 1000 (1 NCD) ₹ 1000 (1 NCD) ₹ 1000 (1 NCD) ₹ 1000 (1 NCD)
Tenor (in days/ months)
24 months 36 months 60 months 24 months 36 months 60 months 24 months 36 months 60 months
Coupon (% per annum) for NCD Holders in all Categories
8.37 8.52 8.65 8.70 8.85 9.00 NA NA NA
Effective Yield (per annum) for NCD Holders in all Categories
8.70 8.85 9.00 8.69 8.84 8.99 8.70 8.85 9.00
Amount (₹ / NCD) on Maturity for NCD Holders in all Categories
₹ 1000 ₹ 1000 ₹ 1000 ₹ 1000 ₹ 1000 ₹ 1000 ₹ 1181.85 ₹ 1290 ₹ 1539

Allocation Ratios

Particulars Category I Category II Category III Category IV
% of the Issue size 20 30 35 15
Base Issue Size (in ₹ crore) 100 150 175 75
Green Issue Size (in ₹ crore) 300 450 525 225
Total Issue Size (in ₹ crore) 400 600 700 300

Frequently Asked Questions

What is the Issue Size?

  • ₹ 500 Crores (Base Issue) with a green shoe option of Rs. 1500 Crores aggregating up to ₹ 2000 Crores Tranche I issue.

Credit Rating for the NCDs?

  • The NCDs proposed to be issued under the Issue have been rated “Crisil AA/Stable for an amount of ₹2,000 crore by Crisil vide their rating letter dated February 11, 2026 and rating rationale dating February 11, 2026 and “BWR AA+/Stable” for an amount of ₹2,000 crore by Brickworks vide their rating rationale dated December 24, 2025 read with rating letter dated December 24, 2025 and revalidation letter February 6, 2026.

Security?

  • The principal amount of the NCDs to be issued in terms of the Shelf Prospectus and this Tranche I Prospectus together with all interest due and payable on the NCDs, shall be secured by way of first ranking pari passu charge by way of hypothecation over the receivables of the Company, both present and future, book debts, loans and advances and current assets of the Company that are in existence as on the date hereof and that shall come into existence at any time and from time to time hereafter (except those assets of the Company which are exclusively charged in favour of existing charge holders as of date and
  • details of which are disclosed to the Debenture Trustee) such that a security cover of at least 100% of the outstanding principal amounts and interest thereon in respect of the Debentures is maintained at all times until the Maturity Date, created in favor of the Debenture Trustee, as specifically set out in and fully described in the Debenture Trust Deed and this Tranche I Prospectus.

What is the face value/ Issue Price of the NCDs?

  • Rs. 1,000/- Per NCD

What is the frequency of interest payment?

  • Series I, II, III – Monthly
  • Series IV, V,VI - Annual
  • Series VII,V III, IX – Cumulative

What is the minimum application amount?

  • Rs. 10,000/- (10 NCDs) and in multiple of Rs. 1,000/- (1 NCD) thereafter (for all the options of NCDs either taken individually or collectively)

Modes of Applying?

  • Application through the ASBA Process (for all applicants). Retail Individual investors may use the UPI to participate in the public issue for an amount up to ₹2,00,000 and High net-worth individual investors shall use the UPI to participate in the public issue for an amount up to ₹5,00,000 through the app/web interface of the Stock Exchange or through intermediaries (Syndicate members, Registered Stock Brokers, Registrar and Transfer agent and Depository Participants)

Who is not eligible to invest in the issue?

  • The following categories of persons, and entities, shall not be eligible to participate in the Issue and any Applications from such persons and entities are liable to be rejected:
  • a. Minors without a guardian name* (A guardian may apply on behalf of a minor. However, Applications by minors must be made through Application Forms that contain the names of both the minor Applicant and the guardian; It is further clarified that it is the responsibility of the Applicant to ensure that the guardians are competent to contract
  • under applicable statutory/regulatory requirements);
  • b. Foreign nationals, NRI inter-alia including any NRIs who are (i) based in the USA, and/or, (ii) domiciled in the USA, and/or, (iii) residents/citizens of the USA, and/or, (iv) subject to any taxation laws of the USA;
  • c. Persons resident outside India and other foreign entities;
  • d. Foreign Institutional Investors;
  • e. Foreign Portfolio Investors;
  • f. Non Resident Indians;
  • g. Qualified Foreign Investors;
  • h. Overseas Corporate Bodies**;
  • i. Foreign Venture Capital Funds; and
  • j. Persons ineligible to contract under applicable statutory/ regulatory requirements.

Can the application be made on joint names?

  • Applications may be made in single or joint names (not exceeding three). In the case of joint Applications, all payments will be made out in favour of the first Applicant. All communications will be addressed to the first named Applicant whose name appears in the Application Form and at the address mentioned therein

Listing?

  • The NCDs are proposed to be listed on BSE and NSE.

Tenor?

  • Series I, IV, VII – 24 Months
  • Series II,V,VIII – 36 Months
  • Series III, VI, IX – 60 Months

Basis of Allotment

  • Category I (Institutional) - 20 % of the Issue Size
  • Category II (Non-Institutional)- 30 % of the Issue Size
  • Category III (HNI) - 35 % of the Issue Size
  • Category IV (Retail Individual) - 15 % of the Issue Size

Can an applicant trade the NCDs in the market?

  • Yes. The NCDs will be listed on BSE & NSE. The trading of the NCDs shall be in dematerialized form only

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