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ICL Fincorp has announced the public issue of its Secured Redeemable Non-Convertible Debentures (NCDs) from November 11.
With a rating of CRISIL BBB- STABLE, the NCD offers investors an opportunity to secure high returns, with effective yields of up to 13.73 per cent. The issue will remain open till November 25 and shall be closed on an earlier date if fully subscribed, a press release said.
The NCDs come with a face value of ₹1,000 each and offer four different schemes, providing 10 investment options (ISINs). Investors can participate with a minimum application size of ₹10,000, ensuring options for a wide range of investors. The interest rates for this offering range between 11 to 13 per cent.
Funds raised through the issue will be utilised to fuel ICL Fincorp’s gold loan sector with continued growth and expansion, enabling the company to offer enhanced financial services to its customers, the release said.
Founded over 32 years ago, ICL Fincorp has been in the financial sector, with 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 92 years of service in Tamil Nadu, further strengthens the company’s market position.
It provides a wide array of financial services, including gold loans, hire purchase loans, investment options, money transfer, foreign exchange, business loans, home and health insurance, and life insurance.
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