Hyderabad, Jan 21 (UNI) IIFL Holdings Limited on Monday announced that its subsidiary, India Infoline Finance Limited (IIFL Finence), a leading Non-Banking Financial company, will open a public issue of bonds on Tuesday to raise up to Rs 2,000 for business growth and expansion.

Addressing on the occasion, the company Group CFO, Prabodh Agarwal said the company will also raise another Rs 3,000 crore bonds in next one year.

The IIFL bonds offer highest yield of 10.50 per cent per annum for individual and other categories and 10.35 per cent for institutional category for tenor of 120 months with frequency of monthly and annual payment, he said.

The IIFL bonds would be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 across all categories. The public issues will be closed on Feb 20, 2019 while the allotment will be made on first come first served basis, he informed.

We have a strong physical presence of 1,755 branches across the country and a well-diversified portfolio, he said we are able to meet the credit requirement of various segments of undeserved population and the funds raised through bonds will help us in expanding our operation more such areas.

The company’s profit after tax stood at about Rs 357 crore for the half year ended September 30, 2018, posting a growth of 69 per cent y-o-y and its loan assets under management (AUM), predominantly retail, showed a strong growth of 40 per cent y-o-y to reach Rs 36,373 crores, mainly driven by small-ticket home loans, SME finance loans and Micro finance loans as on September 30,2018, he claimed.

The current Gross NPA of the company was 2.2 per cent and net NPA was 1.0 per cent, he added.

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