IIFL Finance Limited

Incorporated in 1995, IIFL Finance Limited is a Mumbai-based NBFC company. IIFL offers home loans, gold loans, business loans including loans against property and medium and small enterprise financing, microfinance, construction and real estate finance, and capital market finance; catering to both retail and corporate clients. As at June 30, 2021, March 31, 2021, March 31, 2020 and March 31, 2019, the consolidated assets under management were Rs 431,602.28 million, Rs 446,880.31 million, Rs 379,511.30 million and Rs 349,034.73 million, respectively. The issue is rated CRISIL AA (outlook Stable) by CRISIL Ltd and BWR AA+ (outlook Negative) by Brickworks Ratings India Private Limited. This rating indicates that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk. Coupon rates offered by company is attractive in current time as interest rates are very low. But current time is very tough for finance sector and performance of company was also weak in FY20. So we give SUBSCRIBE rating to this NCD offer.

• 1 Mr. Nirmal Bhanwarlal Jain
• 2 Mr. Venkataraman Rajamani