ICL Fincorp Launches ₹100 Crore NCD Issue Offering Yields up to 13.01%

Thrissur | Kerala-based Non-Banking Financial Company (NBFC) ICL Fincorp Ltd has announced the launch of its fifth public issue of secured, redeemable Non-Convertible Debentures (NCDs), aiming to raise up to ₹100 crore. The issue opens for subscription on April 25, 2025, and carries a CRISIL BBB- Stable rating.

The NCDs, listed on the BSE, are being issued in two tranches—₹50 crore base size with an option to retain an additional ₹50 crore through a green shoe option. The issue will remain open until May 9, 2025, unless closed earlier upon full subscription.

Investors can choose from ten different options across five tenures—13, 24, 36, 60, and 68 months—with interest rates ranging from 11% to 12.50% per annum. The effective yield across all categories varies between 11.50% and 13.01%, making it an attractive investment for risk-tolerant investors.

The face value of each NCD is ₹1,000, with a minimum application size of ₹10,000. Funds raised will be used for onward lending, refinancing of existing debt, and general corporate purposes.

ICL Fincorp, headquartered in Irinjalakuda, Thrissur, commenced operations in 1991. Over the years, the company has expanded to 293 branches across eight Indian states, specializing in gold loans, mortgage loans, and vehicle loans. The company strengthened its market footprint further through the acquisition of Salem Erode Investments, a BSE-listed NBFC with a 94-year legacy in Tamil Nadu.

Under the leadership of Adv. K.G. Anilkumar, Chairman and Managing Director, and co-promoter Mrs. Umadevi Anilkumar, the company has grown from a single-branch operation into a pan-India financial services provider.

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