IKF Finance Ltd has announced that the Board of Directors of the Company at its meeting held on December 07, 2007, has considered and allotted 61,14,665 Fully Convertible Debentures (FCDs) of Rs 13/- each (including a Premium of Rs 3/- per FCD) to the resident and non resident Indians including Promoters, subject to the approval of the Stock Exchange, as approved by the Shareholders at the Extra Ordinary General Meeting of the Company held on November 23, 2007.