Established in 1991, ICL Fincorp Limited operates as a non-banking financial institution. It offers loans secured by household gold jewelry across various states including Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat, and Maharashtra. Specializing in extending Gold Loans to individuals, particularly those from middle-income backgrounds, the company stands out for its rapid loan disbursal, serving as a reliable financial ally during customers’ times of need. It maintains an in-house team of professionals dedicated to accurate and transparent gold appraisal, ensuring fairness in evaluation. Committed to regulatory compliance, the company strictly follows Know Your Customer (KYC) procedures.
ICL Fincorp Limited NCD IPO April 2024 Detail
| Issue Open | April 5, 2024 – April 23, 2024 |
| Security Name | ICL Fincorp Limited NCD IPO |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Overall Issue Size | Rs 75.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | “ACUITE BBB-” by Acuite Ratings and Research Limited |
| Tenor | 13, 24, 36, 60 and 68 months |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
ICL NCD IPO Allocation Ratio
ICL Fincorp Limited NCD IPO Coupon Rates
ICL NCD IPO Rating
The NCDs proposed to be issued under this Issue have been rated ACUITE BBB- by CRISIL Acuite Ratings and Research Limited, with such ratings considered to have a stable outlook.
Company Promoters
The promoter of the company is Kuzhuppilly Govinda Menon Anilkumar
Company Financials
ICL Fincorp Limited NCD IPO Financial Information (Restated Consolidated)
ICL Fincorp Limited’s revenue increased by 25.95% and profit after tax (PAT) rose by 11.86% between the financial year ending with March 31, 2023 and March 31, 2022.
Objects of the Issue
The company proposes to utilise the funds which are being raised through the Issue towards funding the following objects
1. For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on existing borrowings of the Company; and
2. General corporate purposes.
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