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ICL Fincorp Limited NCD (ICL Fincorp Limited NCD November 2024) Detail

November 11, 2024 - November 25, 2024
ICL Fincorp Limited Logo

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.

ICL Fincorp Limited NCD November 2024 Detail

Issue Open November 11, 2024 - November 25, 2024
Security Name ICL Fincorp Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 75.00 Crores
Issue Size (Oversubscription)Rs 25.00 Crores
Overall Issue SizeRs 100.00 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

CRISIL BBB-/Stable by CRISIL.

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/sMitcon Credentia Trusteeship Services Limited

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 5%
Non-Institutional 1%
HNI 30%
Retail 64%

ICL Fincorp Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4Series 5Series 6Series 7Series 8Series 9Series 10
Frequency of Interest PaymentMonthlyMonthlyMonthlyMonthlyCumulativeCumulativeCumulativeAnnualAnnualCumulative
NatureSecuredSecuredSecuredSecuredSecuredSecuredSecuredSecuredSecuredSecured
Tenor13 Months24 Months36 Months60 Months13 Months24 Months36 Months24 Months36 Months68 Months
Coupon (% per Annum)11%11.5%12%12.5%NANANA11.75%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 1,000Rs 1,000Rs 1,000Rs 1,000Rs 1,125.16Rs 1,254.4Rs 1,423.83Rs 1,000Rs 1,000Rs 2,000

NCD Rating

CRISIL BBB-/Stable (pronounced as CRISIL triple B minus rating with Stable outlook) for an amount of Rs. 40,00,000 thousand by CRISIL vide rating letter dated July 08, 2024, for the NCDs proposed to be issued under this Issue.

Company Promoters

Kuzhuppilly Govinda Menon Anilkumar and Umadevi Anilkumar are the company's promoters.

Company Financials

ICL Fincorp Limited Financial Information (Restated Consolidated)

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 Ended31 Mar 202431 Mar 202331 Mar 2022
Assets637.95527.66458.64
Revenue145.69112.6489.43
Profit After Tax0.083.042.71
Net Worth83.3078.3268.19
Reserves and Surplus30.44
Amount in ₹ Crore

Objects of the Issue

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:

  1. For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on existing borrowings of the Company; and
  2. General corporate purposes.

ICL Fincorp Limited NCD November 2024 Prospectus

ICL Fincorp Limited NCD November 2024 Subscription Status

The ICL Fincorp Limited NCD November 2024 was subscribed 0.37 times on November 13, 2024 5:00:00 PM. The NCD subscribed 0.48 times in Retail, 0.21 times in HNI, 0.00 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?Subscription (times)
Retail0.48x
HNI0.21x
Non-Institutional0.00x
Institutional0.00x
Total0.37x

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ICL Fincorp Limited NCD November 2024 Rating

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Rating:Rated 3.8 stars
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ICL Fincorp Limited NCD November 2024 Reviews

Company Contact Information

ICL Fincorp Limited
Plot No: C308, Door No: 66/40,
4th Avenue, Ashok Nagar,
Chennai - 600 083

Phone: +91 44 4208 2381
Email: info@iclfincorp.com
Website: https://www.iclfincorp.com/

ICL Fincorp Limited NCD November 2024 Registrar

Cameo Corporate Services Limited
   Cameo Corporate Services Ltd.,
   Subramanian Building # 1, Club House Road,
   Chennai 600 002 - India

Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/

ICL Fincorp Limited NCD November 2024 Lead Manager(s)


2 Comments

2. Sriram   I Like It. |Report Abuse|  Link|November 13, 2024 10:05:19 AMReply
How to apply on line for HUF account. BSE app not available for HUF.
1. Jon snow   I Like It. |Report Abuse|  Link|November 12, 2024 6:58:41 PMReply
11.5% for 13 months is tempting but the rating is a concern.

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