ICL Fincorp has announced the launch of its latest public issue of Secured Redeemable Non-Convertible Debentures (NCDs) opening on November 17. Each NCD carries a face value of ₹1,000, and the issue offers ten options, with tenures of 13, 24, 36, 60 and 70 months, with monthly, annual and cumulative interest options with interest rates ranging from 10.50 per cent to 12.62 per cent.
The NCD issue will remain open until November 28 and is rated Crisil BBB- /STABLE. The minimum application amount is ₹10,000, making it accessible to a broad spectrum of investors, a press release said.
Proceeds from the issue will be strategically deployed to support ICL Fincorp’s growth initiatives and further enhance the quality of services offered to our customers and stakeholders across India, said the release.
The company’s growing presence spans 10 states – Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Odisha, Gujarat, West Bengal and Goa.
ICL Fincorp offers a comprehensive portfolio of services, including gold loans, hire purchase loans and business loans. The Group has also diversified into sectors such as travel, fashion, diagnostics and charitable initiatives.
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