This reflects strong investor demand and confidence in the company’s financial strength, IIFL Finance said in a statement.
The public issue, which opened earlier on Tuesday, has a base issue size of Rs 500 crore with a green-shoe option to retain oversubscription up to Rs 1,500 crore, aggregating to a total of Rs 2,000 crore. The issue closes on March 4, 2026.
As of noon, the issue was subscribed for Rs 652 crore as per live information available on BSE.
IIFL Finance Managing Director Nirmal Jain said that the company remains focused on deploying capital prudently to expand access to credit while creating sustainable long-term value for all stakeholders.
The funds raised will be utilised for business growth and capital augmentation, it said.
The NCDs offer an effective yield of up to approximately 9 per cent per annum, with investment tenors of 24 months, 36 months, and 60 months.
Investors have the flexibility to choose interest payment options, including monthly, annual, and cumulative (at maturity), it added.