Non-banking financial company IIFL Finance will once again move forward with its plan to raise $400 million through bonds. This news has come from sources. This amount is close to Rs 3360 crore in domestic currency. Earlier, the company had postponed this plan when the Reserve Bank imposed restrictions on some of the company's businesses. Sources informed that the company is discussing this with foreign banks and can issue bonds with a maturity of 3 to 5 years.
 

In September itself, the Reserve Bank had lifted the restrictions imposed on the company's gold-based loan business. These restrictions were imposed in March. The restrictions were also imposed during the plan to raise funds through bonds, so the company postponed the plan. With the removal of the ban in September, the company is now planning to move forward on this plan once again. If a final decision is taken on the plan, then this will be the first time in the last 4 years that IIFL Finance will raise funds through dollar bonds. The company is moving ahead with this plan at a time when due to strict rules, this issuance is happening at a time when it is becoming difficult to raise bank loans in local currency due to strict rules.

According to the source, the company is planning to list the notes in GIFT International Financial Service Center and the bonds can get interest of 10 percent or more. At present, IIFL Finance has not commented on this. Fairfax Financial Holdings, a Canadian company of Indian origin investor Prem Watsa, is the largest shareholder of IIFL. IIFL Finance stock closed at 418.55 with a decline of 0.83 percent in Monday's trade.