{"id":11743,"date":"2026-02-17T07:18:06","date_gmt":"2026-02-17T07:18:06","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=11743"},"modified":"2026-02-17T07:18:06","modified_gmt":"2026-02-17T07:18:06","slug":"iifl-finance-ltd-ncd-ipo","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/","title":{"rendered":"IIFL FINANCE LTD NCD IPO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#High_Yield_Crisil_AAStable_BWR_AAStable_Rated_Minimum_Investment_10k_Only\" >High Yield | Crisil AA\/Stable &amp; BWR AA+\/Stable Rated | Minimum Investment: 10k Only<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Bond_overview\" >Bond overview:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Coupon_rates_and_effective_yield_for_each_of_the_series\" >Coupon rates and effective yield for each of the series:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Allocation_Ratio\" >Allocation Ratio:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Investment_Process_for_IIFL_Finance_Limited_NCD_IPO\" >Investment Process for IIFL Finance Limited NCD IPO:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Financial_Overview\" >Financial Overview:<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Snapshot_stating_the_Total_Income_Expenses_PAT_and_Net_Worth_In_Crores\" >Snapshot stating the Total Income, Expenses,\u00a0 PAT and Net Worth ( In Crores):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Cash_flow_for_last_few_years_In_Crores\" >Cash flow for last few years ( In Crores):<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Ratio_Analysis\" >Ratio Analysis:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Issue_analysis\" >Issue analysis:<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#_Pros\" >\u00a0Pros:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Cons\" >Cons:<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#About_IIFL_Finance_Limited\" >About IIFL Finance Limited:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Key_Highlights\" >Key Highlights:<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Strengths\" >Strengths:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Weaknesses\" >Weaknesses:<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Invest_in_Bond_IPO_online_in_just_5_minutes\" >Invest in Bond IPO online in just 5 minutes<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Source-_Tranche_I_Prospectus_February_12_2026\" >Source- Tranche I Prospectus February 12, 2026\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/#Disclaimer_%E2%80%93_The_information_is_published_as_on_date_17022026_based_on_information_available_on_Tranche_I_Prospectus_February_12_2026_The_information_may_be_subject_to_change_in_case_of_change_in_terms_of_prospectus_or_any_other_reason_as_the_case_may_be_Contents_which_are_exclusively_for_educational_informationknowledge_sharing_on_capital_market_concepts_and_has_no_influence_the_investmentsale_decisions_of_any_investors\" >Disclaimer &#8211; The information is published as on date 17\/02\/2026 based on information available on Tranche I Prospectus February 12, 2026. The information may be subject to change in case of change in terms of prospectus or any other reason as the case may be. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"High_Yield_Crisil_AAStable_BWR_AAStable_Rated_Minimum_Investment_10k_Only\"><\/span><strong>High Yield | Crisil AA\/Stable &amp; BWR AA+\/Stable Rated | Minimum Investment: 10k Only<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"Bond_overview\"><\/span><strong>Bond overview:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">IIFL Finance Limited<\/span> <span style=\"font-weight: 400;\">is issuing the Non-Convertible Debentures. These NCDs are AA\/Stable by Crisil Ratings &amp; AA+\/Stable by Brickwork Ratings. The NCDs are being issued in nine series: yield ranges from 8.69% to 9.00% p.a. and different tenures of 24 months, 36 months and 60 months. The NCDs are secured and redeemable in nature.<\/span><\/p>\n<p><img decoding=\"async\" class=\" wp-image-11745 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064652\/Bond-Overview-Main-251x300.png\" alt=\"IIFL FINANCE NCD IPO\" width=\"1123\" height=\"1343\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064652\/Bond-Overview-Main-251x300.png 251w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064652\/Bond-Overview-Main-857x1024.png 857w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064652\/Bond-Overview-Main-768x917.png 768w\" sizes=\"(max-width: 1123px) 100vw, 1123px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><b>Coupon rates and effective yield for each of the series:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\" wp-image-11746 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064850\/Issue-Structure-2-300x159.png\" alt=\"IIFL Finance NCD IPO \" width=\"1130\" height=\"599\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064850\/Issue-Structure-2-300x159.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064850\/Issue-Structure-2-1024x543.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064850\/Issue-Structure-2-768x408.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064850\/Issue-Structure-2.png 1091w\" sizes=\"(max-width: 1130px) 100vw, 1130px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><b>Allocation Ratio:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for IIFL Finance Limited NCD-IPO. <\/span><\/p>\n<p><img decoding=\"async\" class=\" wp-image-11747 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065037\/Allocation-Ratio-2-300x205.png\" alt=\"IIFL Finance NCD IPO\" width=\"1116\" height=\"762\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065037\/Allocation-Ratio-2-300x205.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065037\/Allocation-Ratio-2-1024x700.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065037\/Allocation-Ratio-2-768x525.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065037\/Allocation-Ratio-2.png 1968w\" sizes=\"(max-width: 1116px) 100vw, 1116px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Investment_Process_for_IIFL_Finance_Limited_NCD_IPO\"><\/span><b>Investment Process for IIFL Finance Limited NCD IPO:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in 3 easy steps.<\/span><\/p>\n<p><img decoding=\"async\" class=\" wp-image-11656 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/04160420\/Investment-Process-300x120.png\" alt=\"IIFL Finance Ltd - NCD IPO\" width=\"1121\" height=\"448\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/04160420\/Investment-Process-300x120.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/04160420\/Investment-Process-768x306.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/04160420\/Investment-Process.png 906w\" sizes=\"(max-width: 1121px) 100vw, 1121px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Financial_Overview\"><\/span><b>Financial Overview:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Snapshot_stating_the_Total_Income_Expenses_PAT_and_Net_Worth_In_Crores\"><\/span><b>Snapshot stating the Total Income, Expenses,\u00a0 PAT and <\/b><b>Net Worth <\/b><b>( In Crores):<\/b><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\" wp-image-11748 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065438\/Financials-2-300x200.png\" alt=\"IIFL Finance NCD IPO\" width=\"1129\" height=\"752\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065438\/Financials-2-300x200.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065438\/Financials-2-768x513.png 768w\" sizes=\"(max-width: 1129px) 100vw, 1129px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h5><span class=\"ez-toc-section\" id=\"Cash_flow_for_last_few_years_In_Crores\"><\/span><b>Cash flow for last few years ( In Crores):<\/b><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><img decoding=\"async\" class=\" wp-image-11749 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065613\/Cash-Flows-300x164.png\" alt=\"IIFL Finance NCD IPO \" width=\"1153\" height=\"630\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065613\/Cash-Flows-300x164.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065613\/Cash-Flows-1024x559.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065613\/Cash-Flows-768x419.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065613\/Cash-Flows-1536x838.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065613\/Cash-Flows.png 1879w\" sizes=\"(max-width: 1153px) 100vw, 1153px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">*Cash flow from operating activities reflects the amount a company generates through its product of services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">**Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.<\/span><\/li>\n<li aria-level=\"1\"><span>***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects <\/span><span>the net flows of cash that are used to fund the company.<br \/>\n<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><b>Ratio Analysis:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\" wp-image-11750 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065851\/Ratio-Analysis-1-300x186.png\" alt=\"IIFL Finance NCD IPO\" width=\"1144\" height=\"709\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065851\/Ratio-Analysis-1-300x186.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065851\/Ratio-Analysis-1-768x477.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17065851\/Ratio-Analysis-1.png 900w\" sizes=\"(max-width: 1144px) 100vw, 1144px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Issue_analysis\"><\/span><b>Issue analysis<\/b><span style=\"font-weight: 400;\">:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"_Pros\"><\/span><b>\u00a0<\/b><b>Pros:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strong Credit Rating:<\/b><span style=\"font-weight: 400;\"> Rated Crisil AA\/Stable and BWR AA+\/Stable indicating high degree of safety and low credit risk\u200b.\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Secured NCDs:<\/b><span style=\"font-weight: 400;\"> Senior, secured NCDs backed by First-ranking pari-passu charge by way of hypothecation of loan receivables.\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Security Cover: <\/b><span style=\"font-weight: 400;\">The security cover required must be a minimum of 100% of the total of the outstanding principal balance of the NCDs.\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Competitive yields<\/b><span style=\"font-weight: 400;\">: up to 9.00% vs bank FDs.\u200b\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Wide tenor and payout options: <\/b><span style=\"font-weight: 400;\">Monthly to cumulative<\/span><\/li>\n<\/ul>\n<h5><span class=\"ez-toc-section\" id=\"Cons\"><\/span><b>Cons:<\/b><span style=\"font-weight: 400;\"><\/p>\n<p><\/span><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><b>Exposure to stressed segments:<\/b> Asset quality pressures persist in micro LAP, unsecured business loans and microfinance, leading to higher provisioning and write-offs.\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Interest Rate Risk:<\/b><span> More pronounced in longer tenors (60months).<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><b>\u00a0<\/b><\/p>\n<h2><span class=\"ez-toc-section\" id=\"To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><b>To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"About_IIFL_Finance_Limited\"><\/span><b>About IIFL Finance Limited:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">IIFL Finance Limited, formerly IIFL Holdings Limited, is a diversified NBFC headquartered in Mumbai that along with its subsidiaries &#8211; IIFL Home Finance Limited and IIFL Samasta Finance Limited &#8211; provides a diverse range of loan products, including gold loans, home loans, MSME secured loans, MSME unsecured loans, supply chain finance and microfinance loans, through a widespread branch network across India.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Founded by first-generation entrepreneurs Mr. Nirmal Jain and Mr. R.Venkataraman, the Company is backed by prominent institutional investors such as Fairfax Financial Holdings, Capital Group, Bank Muscat India Fund, Vanguard and Blackrock.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Company operates a well-integrated physical and digital (\u201cphygital\u201d) platform, with nearly 4800 branches supported by robust online and mobile infrastructure. It serves over 46 lakh customers across business segments. As of Dec\u201925, the Company operates across 32 States\/UTs, managing an AUM of nearly Rs 98,335 Cr.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Key_Highlights\"><\/span><b>Key Highlights:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><b>Strengths:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li aria-level=\"1\"><b>Strong Ownership<\/b><b>: <\/b><span style=\"font-weight: 400;\">The promoters of the group held ownership of (24.9%) of the shareholding. The majority of ownership is held by institutional investors (52.1%) including Fairfax (15.2%), Capital group (7.9%), Vanguard (2.2%), Blackrock (1.2%), HSBC MF (2.1%), Abakkus (2%) and Mahindra Manulife MF (1%).\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Experienced management team: <\/b><span style=\"font-weight: 400;\">The company is spearheaded by a highly experienced leadership team, including Promoter &amp; MD Mr. Nirmal Jain (30+ years in finance) and Co-Promoter &amp; Joint MD Mr. R. Venkataraman (33+ years in finance). They are further supported by a skilled management team possessing significant experience in the financial services sector.<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Asset Light model: <\/b><span style=\"font-weight: 400;\">The Company operates on an asset-light model, collaborating with banks through direct assignment, securitization and co-lending arrangements. This approach aligns well with banks as most of its assets qualify under the RBI\u2019s priority sector lending (PSL) norms or are zero risk weight for the banks. As of Dec\u20182025, off-book assets totalled Rs 34,550 Cr, covering 35% of the total Asset Under Management.<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strong Debt Partnerships: <\/b><span style=\"font-weight: 400;\">It maintains strong debt partnership with PSU banks (SBI, Bank of Baroda, Union Bank, Canara Bank), private sector banks (ICICI Bank, Federal Bank) and NBFCs (Bajaj Finance, Aditya Birla Capital).<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Diversified portfolio:<\/b> <span style=\"font-weight: 400;\">The group has a diversified portfolio spread across 32 states\/UTs of India consisting of different asset classes. AUM consisted of Gold loans (44.17%), Home loans (32.43%), Microfinance (8.50%), MSME Secured loan (9.26%), MSME unsecured loan (3.62%), Supply chain finance (0.43%), personal loan (0.08%), construction and real estate finance (1%) and Capital Markets financing (0.54%).<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Good growth in AUM:<\/b><span style=\"font-weight: 400;\">\u00a0 AUM grew by 26% to Rs 98,335 Cr as of Dec \u201925 (9M-FY26) from Rs 78,341 Cr (FY25), driven by growth in Gold loan portfolio which grew by 107% to Rs 43,432 Cr in 9M-FY26 from Rs 21,021 Cr (FY25).<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strong asset quality with consistent low level of NPAs: <\/b><span style=\"font-weight: 400;\">IIFL Finance Ltd. maintains strong asset quality, supported by a largely secured loan book (87.36% as of Dec &#8217;25). Gross NPAs (GNPAs) improved to 1.60% in Dec\u201925 from 2.23% in Mar\u201925 and 2.32% in Mar\u201924, while net NPAs declined to 0.75% in Dec\u201925 from 1.05% in Mar\u201925 and 1.20% in Mar\u201924, reflecting sustained improvement in credit performance.<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Adequate Capitalisation Matrices: <\/b><span style=\"font-weight: 400;\">The company&#8217;s capitalization has been consistently supported by retained earnings, with the net worth standing at Rs 13,048 Cr. as of Dec\u20192025. <\/span><span style=\"font-weight: 400;\">The company-maintained cash and bank balance of Rs. 5,282 Cr, while its CRAR stood at 27.70%.<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Well Diversified Funding: <\/b><span style=\"font-weight: 400;\">IIFL Finance maintains a well-diversi\ufb01ed funding pro\ufb01le with borrowings spread across Term loans (37.74%), NCDs (26.18%), Securitization (8.01%), Subordinated debt (8.01%) and CPs (17.35%).<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li aria-level=\"1\"><b>Strong Liquidity: <\/b><span style=\"font-weight: 400;\">The company maintained a liquidity buffer of Rs 9,433 Cr (free cash and undrawn lines) as of Dec \u201925, with cash and bank balances of Rs 5,282 Cr. on a consolidated basis. As per the Dec &#8217;25 ALM statement, cumulative mismatches remained positive across all buckets up to 5 years, reflecting strong liquidity management and low refinancing risk.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h5><span class=\"ez-toc-section\" id=\"Weaknesses\"><\/span><b>Weaknesses:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Geographic concentration:<\/b><span style=\"font-weight: 400;\"> 51.83% AUM depends on the top 5 states (Maharashtra &#8211; 16.38%, Gujarat- 13.19%, W.Bengal- 8.17%, Karnataka- 7.12%, Rajasthan- 6.97% ), exposing business to regional economic &amp; political risks.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><b>Subsidiary-level asset quality risks:<\/b><span> While IIFL Home showed improvement (GNPA 0.9% as of Dec &#8217;25), IIFL Samasta continues to report elevated GNPA (~4.8%) due to industry-wide stress in the microfinance segment.<\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h1><span class=\"ez-toc-section\" id=\"Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><b>Invest in Bond IPO online in just 5 minutes<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><span style=\"font-weight: 400;\"><\/p>\n<p><\/span><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Source-_Tranche_I_Prospectus_February_12_2026\"><\/span><b>Source-<\/b><span style=\"font-weight: 400;\"> Tranche I Prospectus February 12, 2026\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5><span class=\"ez-toc-section\" id=\"Disclaimer_%E2%80%93_The_information_is_published_as_on_date_17022026_based_on_information_available_on_Tranche_I_Prospectus_February_12_2026_The_information_may_be_subject_to_change_in_case_of_change_in_terms_of_prospectus_or_any_other_reason_as_the_case_may_be_Contents_which_are_exclusively_for_educational_informationknowledge_sharing_on_capital_market_concepts_and_has_no_influence_the_investmentsale_decisions_of_any_investors\"><\/span><b>Disclaimer<\/b><span style=\"font-weight: 400;\"> &#8211; <\/span><span style=\"font-weight: 400;\">The information is published as on date<\/span> <span style=\"font-weight: 400;\">17\/02\/2026 based on information available on Tranche I Prospectus February 12, 2026. The information may be subject to change in case of change in terms of prospectus or any other reason as the case may be. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/span><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>High Yield | Crisil AA\/Stable &amp; BWR AA+\/Stable Rated | Minimum Investment: 10k Only Bond overview: IIFL Finance Limited is issuing the&hellip;<\/p>\n","protected":false},"author":12,"featured_media":11744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-11743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IIFL FINANCE LTD NCD IPO - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"IIFL FINANCE LTD NCD IPO\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IIFL FINANCE LTD NCD IPO - GoldenPi | Blogs\" \/>\n<meta property=\"og:description\" content=\"IIFL FINANCE LTD NCD IPO\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/iifl-finance-ltd-ncd-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"GoldenPi | Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goldenpitech\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-17T07:18:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/02\/17064205\/IIFL-Finance-blog-banner.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1160\" \/>\n\t<meta property=\"og:image:height\" content=\"551\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Abhijit Roy, CEO &amp; 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