Gold loan financier IIFL Finance plans to raise as much as $750 ​million through a combination of debut dollar-denominated social bonds and an overseas loan ‌in March, two banking sources and a company source aware ​of the matter said on Monday.

“The break-up ⁠of the quantum has not been finalised yet, but the total fundraise could be anywhere between $500 million and $750 million,” a banker familiar with the ‌matter said.

“The tenor of the bond as well as the loan would be between three years and five ‌years.”

The sources requested anonymity as they are not authorised to ‌speak ⁠to media, while the company did not immediately ⁠respond to a Reuters email seeking comment sent on Monday.

In January, Nirmal Jain, managing director at IIFL Finance, had said the company plans to raise approximately 40-50 ​billion rupees ($438-$547 million) through external ‌commercial borrowings over the next six months, potentially through multiple bilateral transactions.

“Our broader strategy is to gradually diversify our funding mix, with foreign currency borrowings including ECBs or dollar bonds forming around 20% ‌of total borrowings over time, while retaining flexibility based on ​market opportunities,” Jain told Reuters.

A social bond is a debenture with ring-fenced proceeds, meaning the funds raised must ⁠be used solely to finance or refinance projects that deliver clear, measurable social outcomes.

The company has already received the certification for issuing social bonds ‌and is in talks with foreign lenders globally to go ahead with its plan before the end of this financial year, the banker said.

One of the use-of-proceeds for funds raised through the social bond will be lending to women entrepreneurs, the banker added.

IIFL Finance provides gold loans, home loans, affordable housing loans and secured ‌business loans, among others. Its AUM stood at 490.27 billion rupees as on ​December 31, sharply higher than 275.08 billion rupees at the end of March 2025.

As on December, gold ⁠loans constituted 89% of AUM, followed by unsecured loans at 8%.

The fundraises ⁠help IIFL Finance will diversify its sources of funding, improve resilience and help drive business growth, Jain added in conversation ‌with Reuters in January.

Currently, the company is also in the process of raising 20 billion rupees through its biggest ​ever rupee public issue.

Published on March 2, 2026