IIFL Finance eyes Rs 1000-cr NCD sale

Non-banking lender IIFL Finance is looking to raise up to Rs 1,000 crore through a domestic bond sale this month. The issue, which comes in times of liquidity stress, has been priced at similar levels as the one in January when it had raised Rs 1,200 crore, offering a coupon up to 10.5 percent, the company said. Chief executive Sumit Bali exuded confidence that despite the elevated cost, they will be able to maintain net interest margins at 7 percent because of its focus on retail. It is looking to…

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