IIFL Finance

What IIFL Finance does

IIFL Finance Limited is an Indian non-banking financial company (NBFC) headquartered in Mumbai and listed on the NSE (ticker: IIFL), founded by Nirmal Jain in 1999. The company operates a 2,500+ branch network across 500+ Indian cities serving over 9 million customers, with a product mix dominated by gold loans (Rs 52,581 crore AUM, ~91% of standalone AUM as of Q4FY26) and complemented by business loans (unsecured up to Rs 75 lakhs; secured from Rs 20 lakhs to Rs 3 crores with up to 15-year tenure), MSME loans, and affordable housing finance through its wholly-owned subsidiary IIFL Home Finance. Microfinance is offered via IIFL Samasta Finance, capital services via IIFL Capital, and fintech services via Open Fintech.

The business model is asset-based interest income on the loan book, funded by a mix of retail NCDs (Rs 500 crore base issue with oversubscription up to Rs 1,500 crore), bank borrowings, and concessional external commercial borrowings from development finance institutions including IFC ($100M), ADB ($300M), BII ($48M + $150M), DFC ($50M), and ADIA (Rs 2,200 crore for 20% of IIFL Home Finance in 2022). In June 2026, IIFL priced a debut $500 million social bond at 7.6% with a ~$2 billion order book, marking the first such issuance from India in 2026. The distribution model combines the physical branch network, a digital channel (IIFL Loans mobile app and website), and growing co-lending partnerships with Central Bank of India and J&K Bank.

The technology stack is an AI-enabled lending platform supporting lead generation, fraud detection, collections, and documentation/NLP-driven customer support. Co-lending cumulative originations exceeding Rs 50,000 crore have run with zero reported losses, and AI-driven lead generation is stated to contribute a Rs 1,000 crore monthly pipeline. The company has navigated a significant regulatory event: in March 2024 the RBI prohibited IIFL from sanctioning or disbursing gold loans due to operational deviations, triggering a ~30% share price decline and a $200 million liquidity commitment from anchor shareholder Fairfax India. The company subsequently resumed and grew gold loan AUM by 150% YoY by Q4FY26, with FY26 consolidated PAT reported at Rs 1,660–1,817 crore and gross NPA at 1.5% with 93% provision coverage.

Name

IIFL Finance

Legal name

IIFL Finance Limited

Website

https://iifl.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

IIFL Finance is a publicly listed Indian NBFC that lends against gold, provides business and MSME loans, and offers affordable housing finance through subsidiaries to over 9 million retail and small-business customers across 2,500+ branches in India.

Ownership category

akta.pro rank

Product category

Retail Lending

NAICS

Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

SME Credit Risk, Underwriting & Financial Data (B2B Fintech Data/Decisioning) (FSAGAJAM)

Keywords

• Retail lending services
• Gold loan products
• MSME business loans
• Secured business loans
• Affordable housing finance

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Gold Loan Interest Income: Primary revenue stream from gold loans secured against pledged gold jewellery. The gold loan AUM surged 150% year-on-year to Rs 52,581 crore, comprising 91% of standalone AUM as of Q4FY26.
2. Home Loan Interest Income: Interest income from affordable home loans and mortgages, with home loan AUM at Rs 321.25 billion as of Q4FY26.
3. Business Loan Interest Income: Interest income from secured and unsecured business loans to MSMEs and entrepreneurs, including loans for manufacturers, women-owned businesses, and e-commerce businesses.
4. Non-Convertible Debentures: Public issues of secured redeemable NCDs with base issue of Rs 500 crore and green-shoe option up to Rs 1,500 crore, offering effective yield up to approximately 9% per annum.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

IIFL Finance is an Indian non-banking financial company (NBFC) that provides collateral-backed and unsecured loans, primarily gold loans against pledged jewellery (91% of standalone AUM at Rs 52,581 crore), business loans for individuals and MSMEs (up to Rs 75 lakhs unsecured and Rs 20 lakhs to Rs 3 crores secured), MSME loans, affordable housing finance through subsidiary IIFL Home Finance, loan against securities, and supply chain finance. The company operates over 2,500 branches across 500+ Indian cities, serving 9+ million customers with an AI-driven digital lending platform.

Product overview

IIFL Finance is a Non-Banking Financial Company (NBFC) based in Mumbai, India, offering a comprehensive suite of lending products. The core product portfolio centers on gold loans (the dominant product representing 91% of standalone AUM with ₹52,581 crore), business loans (unsecured up to ₹75 lakhs), secured business loans (₹20 lakhs to ₹3 crores), and MSME loans. The company operates over 4,761 branches across 500+ cities serving 9+ million customers. Product architecture includes a platform-led approach with specialized gold loan variants for specific segments (agriculture, education, women, MSMEs) alongside general business and secured lending. Digital products like credit score services, loan against securities, and co-lending partnerships complement the core lending offerings. The company also offers supplementary services through partnerships including Livlong (insurance) and property auction through One Home.

Differentiator

Problem solved

Functional benefit

Brands

• Suvarna Dhara Gold Loan: Gold loan product offering
• IIFL Loans

Products and services

• Gold Loan

Quantifiable outcome

• 148% year-on-year profit growth in Q4FY26
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature4 records

Partnerships

Two partnerships are on record, tiered major.

• Central Bank of IndiamajorChannel Partner/ Reseller/ Distributor · 12 March 2026Central Bank of India entered co-lending partnership with IIFL Finance to provide loans at competitive rates and expand credit access across India. IIFL Finance originates loan proposals through its network of 4,761 branches and manages loan accounts, while both institutions share risk and resources.
• J&K BankmajorChannel Partner/ Reseller/ Distributor · 8 March 2026J&K Bank signed co-lending agreement with IIFL Finance for gold loans, combining J&K Bank's deposit franchise and branch network with IIFL Finance's domain expertise to expand retail lending outside Jammu and Kashmir.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Aadhar Housing Finance: Indian affordable housing finance company focused on low-income and EWS borrowers, directly comparable to IIFL Home Finance in target customer, ticket size, and product positioning.
• Aavas Financiers: Affordable housing finance NBFC serving self-employed and low-income borrowers, similar to IIFL Home Finance in customer profile and geographic focus on semi-urban and rural India.
• Spandana Sphoorty Financial: Indian microfinance institution serving low-income women borrowers, comparable to IIFL Samasta Finance's microfinance arm in customer segment and joint-liability group lending model.

Broad incumbents

• HDFC Bank: India's largest private sector bank offering gold loans, business loans, and home loans; competes with IIFL through both direct products and as a co-lending partner candidate.
• ICICI Bank: Large private Indian bank with extensive MSME, home loan, and rural lending franchises; serves the same retail and small business segments as IIFL, often through co-lending arrangements.
• Shriram Finance: Large Indian NBFC specializing in commercial vehicle, two-wheeler, and MSME lending to small business and informal-segment customers overlapping with IIFL's MSME book.
• Cholamandalam Investment and Finance Company: Major Indian NBFC focused on vehicle finance, home loans, and SME lending, with comparable branch network reach and a similar target customer base in tier-2/tier-3 markets.
• Bajaj Finance: Largest Indian retail NBFC offering consumer durable, business, home, and gold loans with deeper product breadth; competes with IIFL across MSME, consumer, and housing finance segments.

Direct peers

• Muthoot Finance: India's largest gold loan NBFC and IIFL's most direct competitor, with a similar branch-led gold loan franchise, asset-backed lending model, and rural/semi-urban customer base.
• Manappuram Finance: Major Indian gold loan and MSME lender with a comparable product mix of gold-backed loans, business loans, and microfinance, directly competing with IIFL in gold and small business credit.

Market position

Strengths5 records

Weaknesses1 record

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/iifl_live
• YouTubeyoutube.com/c/IIFLFinanceOfficial
• Facebookfacebook.com/IIFLGROUP
• Instagraminstagram.com/iifl_finance
• LinkedInlinkedin.com/company/iifl-finance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds18 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments59 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IIFL Finance