Mumbai, April 4 -- IIFL Finance said that it will raise up to Rs 500 crore through a public issue of secured, rated, listed redeemable non-convertible debentures (NCDs). The funds raised will be used for the purpose of onward lending, financing / refinancing the existing indebtedness of the Company, and/or debt servicing (payment of interest and/or repayment / prepayment of interest and principal of existing borrowings of our Company) and general corporate purposes.

The NCDs are rated "Crisil AA/Stable" by Crisil Ratings Limited and "[ICRA] AA (Stable)" by ICRA Limited. The debentures with these

ratings are considered to have high degree of safety regarding timely servicing of financial obligations. Such debentures carry very low

credi...