The ICL Fincorp Limited Issue Open has been confirmed from April 5, 2024 – April 23, 2024. Read the post to learn about ICL Fincorp Limited NCD
ICL Fincorp Limited Developers IPO is a fixed issue size of Rs 75.00 Crores. The company’s main strength is its capacity to deliver loans rapidly, making it a reliable partner for customers during times of financial trouble. The organisation has an in-house staff of professionals specialised to gold appraisal, ensuring that customers’ gold is evaluated precisely, transparently, and impartially.
Start your investing journey today. Find the latest information on Upcoming NCD.
Bidding Dates
April 5-23
Issue Price
Rs 1000 per NCD
Face Value
Rs 1000 each NCD
Market Lot
1 NCD
ICL Fincorp Limited NCD
The ICL Fincorp Limited NCD Face Value is Rs 1000 each NCD.
ICL Fincorp Limited NCD Overview
ICL Fincorp Limited, founded in 1991, is a non-banking financial organisation that makes loans using household gold jewellery as collateral in Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat, and Maharashtra. The company specialises in Gold Loans for individuals, particularly from middle-class households. As part of its dedication to regulatory compliance, the organisation follows strong Know Your Customer (KYC) procedures.
The company’s main strength is its capacity to deliver loans rapidly, making them a reliable partner for customers in times of financial difficulties. The organisation has an in-house staff of professionals specialised to gold appraisal, ensuring that the evaluation of customers’ gold is precise, transparent, and unbiased.
ICL Fincorp Limited NCD Detail
| Issue Open | April 5, 2024 – April 23, 2024 |
| Security Name | ICL Fincorp Limited |
| 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 Fincorp Limited Limited Financial Information
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 563.98 | 527.66 | 458.64 | 374.68 |
| Revenue | 36.13 | 112.64 | 89.43 | 72.13 |
| Profit After Tax | 0.86 | 3.04 | 2.71 | 2.80 |
| Amount in ₹ Crore | ||||
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 1,245.40 | Rs 1,473.83 | Rs 1,000.00 | Rs 1,000.00 | Rs 2,000.00 |
ICL Fincorp Limited NCD Allocation Ratio
Company Profile
Objects of the Issue
The company proposes to utilise the funds which are being raised through the Issue towards funding the following objects
- For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on existing borrowings of the Company; and
- General corporate purposes.
Registrar Info
| Name | Cameo Corporate Services Limited |
| Phone number | +91-44-28460390 |
| Email ID | [email protected] |
| Website | ipo.cameoindia.com |
Contact Details
| Name | ICL Fincorp Limited |
| Phone number | +91 4802670400 |
| Email ID | [email protected] |
| Website | iclfincorp.com |
NCD Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
NCD Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
Leave a Reply