ICL Fincorp Limited NCD: Important Details About ICL Fincorp NCD

ICL Fincorp NCD issue opens on November 11, 2024 and closes on November 25, 2024. It is a Secured, Redeemable, Non-Convertible Debentures (Secured NCDs). The overall issue size is Rs 100 crores. The NCD issue price is Rs 1000 per NCD, and the face value is Rs 1000 for each NCD. The minimum lot size is 10 NCD. The allotment is on a first-come, first-serve basis. The listing is on BSE (Bombay Stock Exchange), and the tenor is 13, 24, 36, 60 and 68 months. The lead manager of ICL Fincorp Limited NCD is Saffron Capital Advisors Private Limited, and the registrar of this NCD is Cameo Corporate Services Limited.

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ICL Fincorp Limited: About the Company

ICL Fincorp Limited was established in 1991 and has headquarters in Chennai. It is a prominent non-banking financial company (NBFC) in India. Originally named Jawahar Finance Limited, it has evolved significantly, expanding its branch network to 163 locations across five South Indian states: Kerala, Tamil Nadu, Telangana, Karnataka, and Andhra Pradesh. The company offers various financial services, which include gold loans, vehicle loans, property loans, and insurance products. Coming under the tutelage of K.G. Anil Kumar, ICL Fincorp has been found to provide competitive interest rates and a customer-centric focus. ICL Fincorp aims to expand its reach across India and, with the objective of operational efficiencies, looks forward to deepening its market presence and continuing to provide secure financial solutions to its customers.

ICL Fincorp NCD: Objectives

The company proposes to utilize the net proceeds from the Issue, after deducting Issue-related expenses, for the following purposes: onward lending and financing, repayment or prepayment of principal and interest on existing borrowings, and general corporate purposes.

ICL Fincorp NCD: Important Details

ICL Fincorp Limited: Financial Performance (Amt in Rs Crore)

ICL Fincorp Limited reported a revenue of Rs 145.69 crore and profit after tax of Rs 0.08 crore for the period ending on March 31 2024. The company's revenue increased by 29.34% in FY24 compared to FY23.

Coupon Rates of ICL Fincorp Limited NCD 2024

IIICL Fincorp Limited: NCD Rating

ICL Fincorp NCD have been assigned a rating of CRISIL BBB-/Stable by CRISIL.' (interpreted as CRISIL triple B minus rating with Stable outlook) by CRISIL vide letter dated July 08, 2024 for an amount of Rs 400 crore. 

How do I apply for ICL Fincorp Limited NCD?

You can click here to apply for the ICL Fincorp NCD.

FAQs

1. When will the ICL Fincorp Limited NCD be open for subscription?

ICL Fincorp Limited NCD issue opens on November 11, 2024, and closes on November 25, 2024.

2. What is the issue size and price of the NCD?

The overall subscription issue size is Rs 100 crores. ICL Fincorp NCD issue price is Rs 1000 per NCD, and the face value is Rs 1000 for each NCD. The minimum lot size is 10 NCD.

3. How has ICL Fincorp Limited performed financially?

ICL Fincorp Limited reported a revenue of Rs 145.69 crore and profit after tax of Rs 0.08 crore for the period ending on March 31 2024. The company's revenue increased by 29.34% in FY24 compared to FY23.  

4. How can I apply for the ICL Fincorp Limited NCD?

You can click here to apply for the ICL Fincorp NCD. 

5. Who is appointed as a registrar of ICL Fincorp Limited NCD?

Cameo Corporate Services Limited is appointed as the registrar for ICL Fincorp NCD.

6. Lead manager for the ICL Fincorp Limited NCD?

Saffron Capital Advisors Private Limited is the lead manager for this NCD issue.

Also Read | Understanding Non-Convertible Debentures (NCDs)