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NCD Status: Closed [28th Nov 2023 to 11th Dec 2023]
ICL Fincorp Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 100.00 Cr and Shelf issue size of worth Rs 100.00 Cr. The subscription is opening from 28 Nov 2023 to 11 Dec 2023. The company issues series I to X at an issue price of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs) . The face value of each NCD is Rs 1000. The NCD tenor is 13, 24, 36, 60 and 68 months with a coupon rate ranging from 11.00% - 13.73% per annum.
Check more about the ICL Fincorp Limited including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 28th Nov 2023 |
| NCD Closing Date: | 11th Dec 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹100.00Cr |
| Issue Size (Shelf): | ₹100.00Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE |
| Tenor: | 13, 24, 36, 60 and 68 months |
| Rating: | ACUITE BBB- with stable outlook by Acuité |
| Series: | Series I to X |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 28th Nov 2023 |
| NCD Issue Close | 11th Dec 2023 |
| BSE Code: | 3211 |
| BSE Script Symbol: | ICLI |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 10000 | 1% |
| Non-Institutional | 40000 | 4% |
| HNI | 200000 | 20% |
| Retail | 750000 | 75% |
ICL Fincorp Limited was established in 1991. We are a non-deposit-taking and systemically important non-banking financial company (“NBFC”) that provides gold loans against the pledge of household gold jewellery (“Gold Loans”).
The company specializes in providing gold loans to individuals, primarily middle-class families. Our Gold Loan business is based on customer focus, efficiency and a commitment to providing seamless financial services. We focus primarily on servicing our customers, disbursing loans and building an efficient local management team. We have invested in technologies and processes that enable quick and easy customer onboarding. This includes user-friendly digital interfaces and simplified documentation procedures that ensure clients can access our services with minimal effort.
Our company has entered the regulated financial services business. One of our key strengths is the fast disbursement of loans, which makes us a reliable partner for our customers in times of financial need. We have our own team of gold valuation experts.
ICL Fincorp Limited's revenue decreased by -20.17% and profit after tax (PAT) rose by 156381.59% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 526.10 | 458.10 | 386.23 |
| Revenue | 88.53 | 110.89 | 75.99 |
| Profit After Tax | 3,132.91 | 2.00 | 1.42 |
| Net Worth | |||
| Reserves and Surplus | 32.84 | 26.39 | 27.28 |
| Total Borrowing | |||
| Amount in ₹ Crore | |||
The company proposes to utilise the funds which are being raised through the Issue towards funding the following objects
ICL Fincorp Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Cumulative | Cumulative | Cumulative | Annual | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 13 Months | 24 Months | 36 Months | 60 Months | 13 Months | 24 Months | 36 Months | 24 Months | 36 Months | 68 Months |
| Coupon (% per Annum) | 11.00% | 11.50% | 12.00% | 12.50% | NA | NA | NA | 11.75% | 12.25% | NA |
| Effective Yield (% per Annum) | 11.57% | 12.13% | 12.68% | 13.24% | 11.55% | 12.36% | 13.03% | 11.75% | 12.25% | 13.73% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,125.16 | Rs 1,254.40 | Rs 1,423.83 | Rs 1,000.00 | Rs 1,000.00 | Rs 2,000.00 |
The promoter of the company is Kuzhuppilly Govinda Menon Anilkumar
The NCDs proposed to be issued have been rated 'ACUITE BBB-' by Acuité.
Last Updated on 2023-12-14T05:32:57+00:00
