7 Dec 2023 , 01:50 PM
IIFL Samasta, a Non-Banking Finance Company – Micro Finance Institution (NBFC MFI) in India, focuses on providing innovative and affordable financial products to women enrolled as members and organized as Joint Liability Groups (JLGs). The target demographic includes individuals from unbanked sections of society, such as cultivators, agricultural laborers, vegetable and flower vendors, cloth traders, tailors, craftsmen, as well as household and industrial workers across rural, semi-urban, and urban areas in India.
The company has launched its Non-Convertible Debentures (NCDs) on December 4, with each lot comprising 10 NCDs priced at Rs 1000 per NCD. Investors have the opportunity to subscribe to the issue until December 15.
As of December 7, 2023, at 12:59:00 PM, the IIFL Samasta Finance NCD Tranche I Nov 2023 witnessed a subscription rate of 1.25 times. The subscription details indicate a 1.00 times subscription in the Retail category, 1.77 times in the High Net Worth Individual (HNI) category, 1.35 times in the Non-Institutional category, and 0.10 times in the Institutional category.
The net proceeds from the NCD issue will be allocated for the following purposes:
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