02-Apr-2024
2 mins read
ICL Fincorp Limited NCD issue will open on Friday April 5, 2024 and will close on Tuesday, April 23, 2024. It is a Secured, Redeemable, Non-Convertible Debentures. The overall issue size is of Rs 75 crores. ICL Fincorp NCD issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD. The basis of allotment is first come and first serve basis. The listing is at (Bombay Stock Exchange) BSE and the tenor is of 13, 24, 36, 60 and 68 months. The lead manager of ICL Fincorp Limited NCD is Saffron Capital Advisors Private Limited. The registrar for this NCD is Cameo Corporate Services Limited.
About ICL Fincorp Limited Profile
ICL Fincorp was incorporated in 1991, is a non-banking financial services company. It provides loans by accepting household gold jewellery as collateral in the states of Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat and Maharashtra. ICL Fincorp Limited specialise in providing Gold loans to individuals mainly from the middle class families. The company's key strength is the ability to quickly disburse the loan and make them their customers. The company has an in-house team of professionals dedicated to gold appraisal, ensuring that the evaluation of customers' gold is precise, transparent and impartial. ICLFincorp broadly provides three types of services: Gold loan, Insurance and Vehicle loan. In Insurance ICL Medicare with Associate Liberty General Insurance offers a variety of health insurance policies tailored to your monetary needs. In vehicle loan, Company provides a two wheeler loan upto a 75% of the vehicle value along with the attractive interest rates for 1 year.
Objectives of the ICL Fincorp NCD Issue
The amount received from this issue will be used for onward lending, financing, and repayment or prepayment of principal and interest on existing borrowings. In addition, general corporate purposes will also be met.
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Financial Performance of ICL Fincorp Limited (In Rs Crore)
ICL Fincorp Limited posted a revenue of Rs 36.13 crore and profit after tax of Rs 0.86 crore for the period ending on 30 June 2023. Company’s revenue increased by 25.95% and net profit rose by 11.86% between the FY ending 31 March 2023 and 31 March 2022.
| Period Ended | 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| 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 | 2.8 |
Important Details of ICL Fincorp Limited NCD 2024
| Issue Open | April 5, 2024 - April 23, 2024 |
| Security Name | ICL Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Issue Size (Base) | Rs 75 Crores |
| Overall Issue Size | Rs 75 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 |
Coupon Rates of ICL Fincorp Limited NCD 2024
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | |
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 13 Months | 24 Months | 36 Months | 60 Months | 13 Months |
| Coupon (% P.A ) | 11.00% | 11.50% | 12.00% | 12.50% | - |
| Effective Yield (% P.A) | 11.57% | 12.13% | 12.68% | 13.24% | 11.55% |
| Amount on Maturity | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,125.16 |
| Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | |
| Frequency of Interest Payment | Cumulative | Cumulative | Annual | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 36 Months | 24 Months | 36 Months | 68 Months |
| Coupon (% P.A ) | - | - | 11.75% | 12.25% | - |
| Effective Yield (% P.A) | 12.36% | 13.03% | 11.75% | 12.25% | 13.73% |
| Amount on Maturity | Rs 1,245.40 | Rs 1,473.83 | Rs 1,000 | Rs 1,000 | Rs 2,000 |
NCD Rating
The NCDs Issue have been rated "ACUITE BBB-" by Acuite Ratings and Research Limited.
Lead Manager of ICL Fincorp Limited NCD
The lead manager for the ICL Fincorp Limited NCD 2024 is Saffron Capital Advisors Private Limited.
How to Apply for ICL Fincorp Limited NCD?
Wait for the NCD to open for subscription, then click here to apply for this NCD online and in a hassle free way.
How to Check the Allotment Status of ICL Fincorp Limited NCD?
The ICL Fincorp Limited NCD 2024 registrar is Cameo Corporate Services Limited. To check your allotment status, please click here.
FAQs
- When will the ICL Fincorp Limited NCD be open for subscription?
ICL Fincorp Limited NCD issue will open on Friday April 5, 2024 and will close on Tuesday, April 23, 2024.
- What is the issue size and price of the NCD?
The overall issue size is of Rs 75 crores. ICL Fincorp NCD issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD.
- What are the main objectives of the ICL Fincorp Limited NCD?
The amount received from this issue will be used for onward lending, financing, and repayment or prepayment of principal and interest on existing borrowings. In addition, general corporate purposes will also be met.
- How has ICL Fincorp Limited performed financially?
ICL Fincorp Limited posted a revenue of Rs 36.13 crore and profit after tax of Rs 0.86 crore for the period ending on 30 June 2023. Company’s revenue increased by 25.95% and net profit rose by 11.86% between the FY ending 31 March 2023 and 31 March 2022.
- What types of loans does ICL Fincorp Limited offer?
ICL Fincorp Limited specialise in providing Gold loans to individuals mainly from the middle class families. The key strength of the company is the ability to quickly disburse the loan and make them their customers. ICLFincorp broadly provides three types of services: Gold loan, Insurance and Vehicle loan.
- How can I apply for the ICL Fincorp Limited NCD ?
Wait for the NCD to open for subscription, then click here to apply for the ICL Fincorp Limited NCD.
- How can I check the allotment status of the NCD?
The ICL Fincorp Limited NCD registrar is Cameo Corporate Services Limited. To check your allotment status, please click here.
- What are the tenors and coupon rates for the NCD?
The NCDs offer tenors of 13, 24, 36, 60 and 68 months, with coupon rates varying from 11% to 12.25% from Series 1 to Series 10.
- Who is the lead manager for the ICL Fincorp Limited NCD?
Cameo Corporate Services Limited is the lead manager for this NCD issue.
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