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IIFL Home Finance to raise nearly โ‚น3,000 crore through bond issue: Report | Mint

LivemintLivemint ยท 1y ago
IIFL Home Finance to raise nearly โ‚น3,000 crore through bond issue: Report | Mint
Medial

- IIFL Home Finance plans to raise approximately โ‚น3,000 crore through a public issue of bonds. - The lead managers for the bond issue are Trust Investment Advisors and IIFL Securities, both rated AA by Crisil and India Ratings. - The details of the bond issue have not been finalized yet. - IIFL Finance is aiming to raise โ‚น10,000 crore through debt between October and March to recover from the RBI's ban on issuing gold loans. - The RBI recently lifted the ban on IIFL Finance's gold loan business, resulting in a surge of over 12% in the company's shares. - HSBC upgraded IIFL Finance stock to 'hold' from 'reduce' after the RBI's decision, with a higher target price of โ‚น540, and increased its earnings per share estimates.

IIFL Fintech floats Rs 500 Cr Fund II

EntrackrEntrackr ยท 15d ago
IIFL Fintech floats Rs 500 Cr Fund II
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IIFL Group backed IIFL Fintech Fund has announced the final close of its second fund after raising Rs 500 crore from domestic family offices and high net worth individuals. The Series II fund targets early to growth stage fintech startups, with a focus on companies using generative artificial intelligence to build financial services products. The fund plans to invest in 20 to 25 startups across lending, payments, compliance, wealthtech, insurtech, and embedded finance. Around 20 to 25 percent of the second fund will be allocated for follow on investments in top performing companies from its first fund. IIFL Fintech had announced the first close of its second fund at Rs 200 crore in January 2025 and has already backed five startups through this. These include companies such as education focused fintech GrayQuest, voice AI startup Fundamento, banking infrastructure startup Knight Fintech, and a secondary share purchase in document infrastructure firm Leegality, among others. According to IIFL Fintech, it actively partners with fintech founders to help them validate, deploy, and scale their solutions within a large financial services ecosystem. The fund closed its first fund in 2022 after raising Rs 200 crore. IIFL Fintech Fund was set up in 2021 with the aim of investing in early stage fintechs that the IIFL Group could collaborate with. Over the last four years, the IIFL Fintech Fund has invested across multiple fintech segments. Its portfolio includes Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, Castler, Vitra.ai, EasyRewardz, Multipl, Riskcovry, and TrustCheckr, which was sold to Truecaller.

BharatPe strengthens leadership team with key appointments in finance and investments

EntrackrEntrackr ยท 5m ago
BharatPe strengthens leadership team with key appointments in finance and investments
Medial

BharatPe strengthens leadership team with key appointments in finance and investments Fintech platform BharatPe has expanded its leadership team with the appointment of Rajesh C as Head of Finance and Himanshu Nazkani as Head of Investments. The strategic hires come as the company prepares for its next phase of growth. Rajesh C, who will oversee finance, treasury, and taxation, brings more than two decades of experience across financial planning, accounting, and regulatory reporting. He has previously held leadership roles at SBI Card, ABN Amro-RBS, and GE Capital, and was part of the core team that managed SBI Cardโ€™s IPO. Himanshu Nazkani, as head of investments, will drive the companyโ€™s investment and insurance strategy while building partnerships across mutual funds, digital gold, fixed deposits, and insurance. With experience spanning fintech, wealthtech, and venture capital, he has previously worked with CarDekho Group, NYE Money, Kristal.ai, Elevar Equity, and Religare Global Asset Management. The development comes at a time BharatPe is negotiating a pre-IPO funding round. The company recently claimed that it turned profitable in FY25 with a profit before tax of Rs 6 crore (excluding ESOP costs) on revenues of Rs 1,800 crore. This marks a turnaround for the firm which had been loss-making for several years. BharatPe raised its last equity round in August 2021 when it also entered the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. In June, BharatPe announced the appointment of Siddhartha Jain as the Chief Network Officer (CNO). Trillionloans Fintech Private Limited (TFPL), the BharatPe NBFC arm, had also appointed Sandeep Singh as its new chief executive officer in April this year.

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