IIFL Finance has approved the issuance of up to 125 Unsecured Redeemable Non-Convertible Subordinated Debentures - Series D30 having face value of Rs 1 crore each aggregating Rs 125 crore (with a base issue size of Rs 100 crore and a green-shoe option to retain oversubscription up to Rs 25 crore) on private placement basis.