IFL Finance IPO: Gold Loan NBFC Files DRHP With Sebi; Fresh Issue, OFS Planned

Gold loan-focused non-banking financial company IFL Finance Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO).

According to the draft papers, the proposed issue comprises a fresh issue of up to 3.55 crore equity shares and an offer for sale (OFS) of up to 30 lakh equity shares by existing shareholders.

The OFS includes shares proposed to be sold by promoters Sunita Bansal, Kriti Suri, Gopal Bansal HUF and Arvind Kumar Bansal HUF.

IFL Finance said the proceeds from the fresh issue will be used to strengthen its Tier-I capital base, enabling the company to support future lending requirements while meeting regulatory capital adequacy norms applicable to NBFCs.

The company has also proposed a pre-IPO placement of up to 1.15 crore equity shares. If the placement is completed before the public issue opens, the size of the fresh issue will be reduced.

Established as a non-deposit-taking NBFC-Investment and Credit Company (NBFC-ICC) under the Reserve Bank of India's Base Layer framework, IFL Finance primarily lends against pledged gold jewellery. The company has also expanded into home loans and loans against property, although these segments account for a much smaller share of its lending portfolio.

As of March 31, 2026, the company operated 88 branches across Delhi, Rajasthan, Uttar Pradesh, Madhya Pradesh and Haryana. Its branch network served more than 33,000 active borrowers at the end of the last financial year.

The company's gross loan portfolio stood at ₹520.49 crore as of March 31, 2026, compared with ₹279.10 crore two years earlier. The increase represents a 36.56% compound annual growth rate (CAGR) over the period.

Gold loans remained the largest business segment, accounting for 84.77% of the total loan book. Home loans contributed 14.33%, while loans against property accounted for 0.90% of the portfolio.

The company said its lending business focuses on secured retail credit, with gold loans continuing to drive disbursements and portfolio growth.

The draft papers show that the company intends to continue expanding its lending operations by strengthening its capital base through the proposed public issue.

Aryaman Financial Services Ltd has been appointed as the sole book-running lead manager to the issue, while Skyline Financial Services Ltd will act as the registrar.

IFL Finance has filed only the draft prospectus at this stage. The company will announce the IPO price band, lot size and issue dates after receiving the necessary regulatory approvals and filing the red herring prospectus.

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