IBL Finance Limited — QIP/Rights/Pref., 28-02-2025: Allotment of Securities

IBL Finance Limited has announced the allotment of 91 Unlisted, Secured, Unrated, Taxable, Redeemable Non-Convertible Debentures (NCDs), each with a face value of ₹1,00,000, aggregating to ₹91,00,000. The NCDs will not be listed and have a tenure of 620 days, maturing on November 9, 2026. The coupon is fixed at 13% per annum, with monthly payments. The proceeds from this private placement are likely to support the company's financing activities, secured against receivables with a coverage of 1.05 times. Default provisions include an additional interest charge for late payments.