New Delhi, April 5 -- IIFL Finance , which is a non-banking financial company (NBFC), today said that it will raise up to Rs.500 crores 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 ...