₹100.00 Cr| Listing at BSE | Mon, Nov 11, 2024 - Mon, Nov 25, 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 ₹25.00 Cr, aggregating to a total issue size of ₹100.00 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 Nov 11, 2024 and closes on Nov 25, 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
Mon, Nov 11, 2024
Close Date
Mon, Nov 25, 2024
Issue Size (Overall)
₹100.00 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% | 11.5% | 12% | 12.5% | 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 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,125.16 | Rs 1,254.4 | Rs 1,423.83 | Rs 1,000 | Rs 1,000 | Rs 2,000 |
ICL Fincorp Limited's revenue increased by 29.35% and profit after tax (PAT) dropped by -97.34% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 637.95 | 527.66 | 458.64 |
| Revenue | 145.69 | 112.64 | 89.43 |
| Profit After Tax | 0.08 | 3.04 | 2.71 |
| Net Worth | 83.30 | 78.32 | 68.19 |
| Reserves and Surplus | 30.44 | ||
| Amount in ₹ Crore | |||
| Category | Allocated (%) |
|---|---|
| Institutional | 5.00% |
| Non-Institutional | 1.00% |
| HNI | 30.00% |
| Retail | 64.00% |
| Total | 100.00% |
ICL Fincorp Limited is a non-deposit-taking and base layer non-banking finance company (NBFC) in the business of gold loans, which lends money against the pledge of household gold ornaments (gold loans) in the states of Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat and Maharashtra.
The company also offers loans against real estate, business loans, and personal loans. As of June 30, 2024, the gold loan portfolio stood at Rs. 51,84,077.52 thousand, representing 98.77% of total loans (excluding off-balance sheet assets). This portfolio also accounted for 98.66%, 99.20%, and 97.51% of total loans in the 2024, 2023 and 2022 financial years respectively. As of September 30, 2024, the company had 295 branches, mainly in the southern states of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Telangana, Odisha and the western states of Gujarat and Maharashtra.
The company offers several customized loan options:
1. Real estate loans: Available for salaried and self-employed individuals, these loans offer competitive interest rates and range from Rs. 5,00,000 to Rs. 25,00,000 with tenures of 36 to 60 months secured against residential, commercial, or industrial properties.
2. Business Loans: For entrepreneurs, loans range from Rs. 50,000 to Rs. 75,00,000, with tenures ranging from 100 days to 24 months. They require two business guarantors and proofs such as identity cards, proof of address, and bank statements.
3. Vehicle Loans: Two-wheeler loans of up to 75% of the value of the vehicle are available for selected customers, with terms ranging from 12 to 36 months. Loan amounts range from Rs. 25,000 to Rs. 2,00,000, with repayment through EMI.
As of September 30, 2024, the company employed 1,271 people, 59% of whom were women.
The Company proposes to utilise the funds which are being raised through the Issue, after deducting the Issue related expenses to the extent payable by the Company towards funding the following objectives:
[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. The sudden boost in its bottom lines for Q1-FY25 raises concern over its sustainability going forward. Though the company is offering a tempting coupon rates, with poor rating of BBB-/Stable by CRISIL that is a major concern. Well-informed investors may park moderate funds for the medium term. Read detail review...
The ICL Fincorp Limited NCD November 2024 was subscribed 1.04 times on Nov 25, 2024 17:00. The NCD subscribed 1.36 times in Retail, 0.48 times in HNI, 2.67 times in Non-Institutional, and 0.00 times in Institutional category.
ICL Fincorp Ltd.
Plot No: C308, Door No: 66/40,
4th Avenue, Ashok Nagar,
Chennai - 600 083
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.
