₹75.00 Cr| Listing at BSE | Fri, Apr 5, 2024 - Fri, Apr 12, 2024
ICL Fincorp Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture with a base issue size of ₹75.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a total issue size of ₹75.00 Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
ICL Fincorp Ltd. NCD issue opens on Apr 5, 2024 and closes on Apr 12, 2024. NCD are proposed to be listed on BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 11.00% per annum to 12.50% per annum, depending on the series and tenure selected.
The NCD has been rated: .
Saffron Capital Advisors Pvt.Ltd. is the Lead Manager to the issue, Mitcon Credentia Trusteeship Services Ltd. is the Debenture Trustee, and Cameo Corporate Services Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Fri, Apr 5, 2024
Close Date
Fri, Apr 12, 2024
Issue Size (Overall)
₹75.00 Cr
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's revenue increased by 25.95% and profit after tax (PAT) rose by 11.86% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 | ||||
The promoter of the company is Kuzhuppilly Govinda Menon Anilkumar
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 1.00% | 7,500 |
| Non-Institutional | 1.00% | 7,500 |
| HNI | 30.00% | 2,25,000 |
| Retail | 68.00% | 5,10,000 |
| Total | 100.00% | 7,50,000 |
Incorporated in 1991, ICL Fincorp Limited is a non-banking financial company that provides loans by accepting household gold jewellery as collateral in the states of Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat, and Maharashtra. The Company specializes in providing Gold Loans to individuals, primarily from middle-class families.
The company proposes to utilise the funds which are being raised through the Issue towards funding the following objects
[Dilip Davda] The company is primarily a gold loan company having major operations in southern regions. It has posted an average financial performance so far. Though the company is offering a tempting coupon rates, poor rating of BBB-/Stable by ACUITE is a major concern. Well-informed investors may park moderate funds for the medium term. Read detail review...
The ICL Fincorp Limited NCD April 2024 was subscribed 1.18 times on Apr 12, 2024 17:00. The NCD subscribed 1.30 times in Retail, 0.96 times in HNI, 0.67 times in Non-Institutional, and 0.00 times in Institutional category.
ICL Fincorp Ltd.
No.61/1, VGP Complex,
First Avenue, Ashok Nagar,
Chennai–600 083, TamilNadu, India
Chennai, Tamil Nadu, 600083
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem ICL Fincorp Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
