IIFL Finance Limited at its board meeting held on February 29, 2024, approved the issuance of non-convertible debentures on a private placement basis and approved the draft of the General Information Document and Key Information Document. Type of Securities is Unsecured, listed, rated, perpetual, Tier 1 capital debt instruments in the nature of non-convertible debentures (NCDs) in accordance with the RBI guidelines. Type of Issuance is Private Placement.

Total Number of Non-Convertible Debentures is upto 200 NCDs. Size of Issue is INR 2,000 million (200 NCDs of face value of INR 10,000,000 each) with a base issue size of INR 500 million and a green-shoe option to retain oversubscription up to INR 1,500 million. Tenor is Perpetual.

Coupon/Interest is to be determined on the EBP Platform in terms of applicable SEBI regulations. Security: Unsecured. Default in payment: In case of default (including delay) in payment of interest/coupon and/or redemption of principal on the due dates, the Company shall pay additional interest @ 2% p.a. over the coupon rate for defaulting period.

In case of delay in listing of the NCDs within 3 (three) working days from the issue closing date, the Company shall pay penal interest of 1% p.a. over the coupon/dividend rate for the period of delay to the investor (i.e. from the date of allotment to the date of listing). In case of delay in execution of the debenture trust deed within the timeline prescribed by the SEBI, the Issuer shall pay penal interest at the rate of 2% per annum, till the date of execution of the debenture trust deed. Details of redemption of debentures: Not applicable since NCDs are perpetual in nature, subject to the exercise of any call option by the Company after expiry of at least 10 years from the deemed date of allotment and with the prior approval of RBI.