ICL Fincorp Secured, Redeemable NCDs with a rating of CRISIL BBB-STABLE opens on 25th April 2025
Coupon rate (% per annum) ranges from minimum 11% to maximum 12.50%
Tenures include 13 months, 24 months, 36 months, 60 months and 68 months
Effective Yield (% per annum) for NCD Holders in all categories ranges from minimum 11.50% to maximum 13.01%.
NATIONAL, MUMBAI, 23 APRIL, 2025 (GPN): Kerala-based ICL Fincorp Ltd, a NBFC, has announced the launch of CRISIL-rated public issue of secured, redeemable, Non-Convertible Debentures (NCDs) to the tune of Rs 50 crore with a green shoe option of Rs 50 crore, totalling Rs 100 crore. The NCD will open on April 25, 2025. This is the fifth series of NCD public issue from ICL Fincorp – the instruments are listed with BSE. With 293 branches across eight states, the company has established itself as a leading name in the financial sector, with a primary focus on Gold Loans, Mortgage Loans and Vehicle Loans.
(L-R): Mr. T Madhavankutty, CFO, ICL Fincorp Limited; Dr Rajashree Ajith, Executive Director, ICL Fincorp Limited; Mr Sam Maliyekkal, Senior HR Manager, ICL Fincorp Limited.
With a Crisil BBB- stable rating, the NCD offering gives investors returns, with effective yields of up to 13.01 per cent. The issue will remain open until May 9, 2025 with an option to close on an earlier date if fully subscribed. Funds raised through the IPO of NCDs, will be utilised For the purpose of onward lending, financing and for the repayment/prepayment of principal and interest on existing borrowings of the company and General corporate purposes.
The NCDs come with a face value of 1,000 each and offer four different schemes, providing 10 investment options. Investors can participate with a minimum application size of 10,000. The interest rates range between 11 to 13.01 per cent.
ICL Fincorp which commenced its operations in 1991, has branches across Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, Maharashtra, and Gujarat. Its acquisition of Salem Erode Investments, a BSE-listed NBFC with over 94 years of service in Tamil Nadu, further strengthens the company’s market position.
ICL Fincorp offers a wide array of financial services, including gold loans, hire purchase loans, and investment options.
About ICL Fincorp Ltd:
ICL Fincorp Ltd., a Non-Banking Financial Company (NBFC), commenced operations in 1991, headquartered in Irinjalakuda, Thrissur, Kerala.
ICL Fincorp’s fully owned subsidiary- Salem Erode Investments Ltd, is a 94 year old listed company in BSE, and operates in Tamil Nadu and Odisha with 38 Branches.
As a customer-centric organization, ICL Fincorp has consistently met the needs of individuals seeking short-term financing secured by their gold assets. The company continues to expand its reach and enhance its capabilities in response to the evolving demands of the market.
Adv. K.G. Anilkumar is the Chief Promoter and Chairman and Managing Director of the Company. Under his leadership, ICL Fincorp has expanded from a single-location company in Thrissur to a pan-India entity with 293 branches at various states in India. Mrs. Umadevi Anilkumar is the other Promoter of the company.
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