Shares of IIFL Finance advanced nearly 2 per cent in Thursday’s afternoon trade after the company informed bourses that it has raised Rs 200 crore on private placement basis.

The scrip traded 1.55 per cent higher at Rs 78.70 at around 12.30 pm (IST), while the benchmark BSE Sensex traded 253 points or 0.70 per cent higher at 36,582.

“The Finance Committee of the board of directors of the company has approved allotment of 2000 non-convertible debentures (NCDs) namely IIFL Finance 8% Redeemable NCD Series D6 of face value of Rs 10 lakh each, for cash at par, aggregating to Rs 200 crore, on private placement basis,” the company said in a BSE filing.

The board of directors of the company at its meeting held on July 9, 2020 has approved the same.