ICL Fincorp Limited NCD (ICL Fincorp NCD Nov 2023) Detail

November 28, 2023 - December 11, 2023

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's key strength is the ability to quickly distribute loans, making them a dependable partner for customers during times of financial difficulty. The company boast an in-house team of professionals specifically dedicated to gold appraisal, ensuring that the evaluation of the customers' gold is precise, transparent, and impartial. As part of the commitment to regulatory standards, the company adheres to strict Know Your Customer (KYC) procedures.

ICL Fincorp NCD Nov 2023 Detail

Issue Open	November 28, 2023 - December 11, 2023
Security Name	ICL Fincorp Limited
Security Type	Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)	Rs 100.00 Crores
Issue Size (Shelf)	Rs 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	ACUITE BBB- with stable outlook by Acuité
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

NCD Allocation Ratio

Category	NCD's Allocated
Institutional	1%
Non-Institutional	4%
HNI	20%
Retail	75%

NCD's Offered by Category

Category	NCD's Reserved
Institutional	10,000
Non-Institutional	40,000
HNI	200,000
Retail	750,000
Total NCD's	1,000,000

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 1,254.40	Rs 1,423.83	Rs 1,000.00	Rs 1,000.00	Rs 2,000.00

NCD Rating

The NCDs proposed to be issued have been rated 'ACUITE BBB-' by Acuité.

Company Promoters

The promoter of the company is Kuzhuppilly Govinda Menon Anilkumar

Company Financials

ICL Fincorp Limited Financial Information (Restated Standalone)

ICL Fincorp Limited's revenue decreased by -20.17% and profit after tax (PAT) rose by 156381.59% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	526.10	458.10	386.23
Revenue	88.53	110.89	75.99
Profit After Tax	3,132.91	2.00	1.42
Net Worth
Reserves and Surplus	32.84	26.39	27.28
Total Borrowing
Amount in ₹ Crore

Objects of the Issue

The company proposes to utilise the funds which are being raised through the Issue towards funding the following objects

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 NCD Nov 2023 Prospectus

› Draft Prospectus
› Red Herring Prospectus

ICL Fincorp NCD Nov 2023 Subscription Status

The ICL Fincorp NCD Nov 2023 was subscribed 1.37 times on December 8, 2023 1:00:00 PM. The NCD subscribed 1.42 times in Retail, 1.46 times in HNI, 0.27 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?	Subscription (times)
Retail	1.42x
HNI	1.46x
Non-Institutional	0.27x
Institutional	0.00x
Total	1.37x

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ICL Fincorp NCD Nov 2023 Rating

3.5

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ICL Fincorp NCD Nov 2023 Reviews

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Company Contact Information

ICL Fincorp Limited
No.61/1, VGP Complex,
First Avenue, Ashok Nagar,
Chennai–600 083, TamilNadu, India

Phone: +91 4802670400
Email: info@iclfincorp.com
Website: https://www.iclfincorp.com/

ICL Fincorp NCD Nov 2023 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 NCD Nov 2023 Lead Manager(s)

Saffron Capital Advisors Private Limited

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1 Comments

1. Satya Prakash Link|November 25, 2023 3:23:46 PM

How this ncd is safe, pl explain.