IIFL Finance announced that ICRA has reaffirmed the rating assigned to the short term debt programmes at “[ICRA] A1+” and the rating of “[ICRA]AA (Negative)/ PP-MLD[ICRA]AA (Negative)” to the long termdebt programmes of IIFL Finance.

Further, ICRA has reaffirmed the rating assigned to the short term debtprogrammes at “[ICRA] A1+” and the rating of “[ICRA]AA (Negative)/ PP-MLD[ICRA]AA (Negative)” to the long term debt programmes of IIFL Home Finance (“IHFL”) a wholly owned subsidiary of theCompany.

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IIFL Finance will hold a meeting of the Board of Directors of the Company on 29 January 2021.

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IIFL Finance has fixed 06 February 2021 as record date for purpose of interim dividend, if declared.

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Under this partnership, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.

Definitive agreements for the said co-lending arrangement had been executed between the IIFL Home Finance and Standard Chartered Bank on 16 January 2021.

IIFL Finance offers a wide spectrum of products such as home loan, gold loan, business loan, microfinance, capital market finance and developer & construction finance.

On a consolidated basis, the company's net profit jumped 148% to Rs 212.59 crore on a 30.3% rise in total income to Rs 1515 crore in Q2 September 2020 over Q2 September 2019.

IIFL Finance shed 0.30% to Rs 115.05. It traded in the range of 114.80 and 116.50 so far during the day.

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