Mumbai, February 16 IIFL Finance is planning to increase the share of External Commercial Borrowings (ECB) and foreign currency borrowings to 20 per cent of its total liabilities by FY27, from 13 per cent currently, a top official said on Monday.
Currently, IIFL Finance's standalone total external borrowing stands at Rs 5,937 crore, of which external loan is Rs 2,257 crore and dollar bonds is Rs 3,680 crore, Nirmal Jain, Managing Director and Founder of the company told reporters here.
"Our ECB and foreign currency borrowings currently account for 13 per cent of total borrowings. We intend to raise this to 20 per cent in the next fiscal year and plan to mobilise a significant amount over the next few months," Jain said.
The total borrowing of the company stood at Rs 60,640 crore in April-December period of FY26, according to the investor presentation of the company. Of this, the majority share of 41 per cent borrowing is through term loans, followed by 31 per cent through debentures, 18 per cent and 9 per cent via refinance and securitization and other, respectively.
In October-December FY26, the cost of borrowing increased to 9.28 per cent from 9.15 per cent a year ago. However, the cost of borrowing reduced by 0.10 per cent on a quarter-on-quarter basis.
Separately, the company announced its intent to raise up to Rs 2,000 crore in a bond issue, which includes a greenshoe option of Rs 1,500 crore. The bonds bear coupon rates of 8.70-9 per cent.
The issue will open for subscription on February 17, and close on March 4, according to the release. The bonds have been rated 'AA' with 'Stable' outlook by CRISIL, and 'AA+' with 'Stable' outlook by Brickworks Ratings.