Non-banking financial company IIFL Finance on Thursday said it’s getting to agitate to Rs 1,000 crore through issuance of non-convertible debentures  of varied maturity.

The company will issue  aggregating to Rs 100 crore, with a green-shoe choice to retain oversubscription up to Rs 900 crore, a release said.

The bonds are available in tenors of 24 months, 36 months and 60 months.

The frequency of interest payment is out there on a monthly, annual and at maturity basis for 60 months tenor, while for other tenors it’s available on an annual and at maturity basis.

The bonds offer the very best effective yield of 8.75 per cent once a year for the tenor of 60 months.

The company also will offer an incentive of 0.25 per cent once a year for its existing bond or equity shareholders.

The funds raised are going to be used for business growth and capital augmentation, the discharge said.

The issue will open on September 27, 2021, and shut on October 18, 2021, with an option of early closure.