ICL Fincorp, a Kerala-based NBFC, has recently announced the launch of a public issue of secured redeemable Non-Convertible Debentures (NCDs), starting on January 8. These NCDs, rated Crisil BBB- stable, offer investors attractive returns with effective yields of up to 13.73 percent. The issue will be open until January 21, or earlier if fully subscribed.
Investors can participate in the NCD offering with a minimum application size of ₹10,000, with NCDs available at a face value of ₹1,000 each. There are four different schemes and 10 investment options available, with interest rates ranging from 11 to 13.01 percent. The prospectus can be downloaded from the company’s website.
Funds raised through this public issue will be used to support the company’s growth and expansion in the gold loan sector. ICL Fincorp, with over 32 years of experience, has branches across several states in India and recently acquired Salem Erode Investments, further strengthening its market position.
In addition to gold loans, ICL Fincorp offers a variety of financial services, including hire purchase loans, investment options, home and health insurance, and life insurance. This public issue of NCDs presents an opportunity for investors to participate in the company’s growth and leverage its expertise in the financial services sector.
In conclusion, the launch of the public issue of NCDs by ICL Fincorp represents a significant opportunity for investors to earn attractive returns and support the company’s continued growth and expansion in the financial services industry. With a strong track record and a range of services on offer, ICL Fincorp stands out as a promising player in the market.
