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| Issue Size (Base) | ₹75.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE |
| Tenor | 13, 24, 36, 60 and 68 Months |
| Credit Rating | CRISIL BBB-/Stable by CRISIL. |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
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 Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 637.95 | 527.66 | 458.64 |
| Revenue | 145.69 | 112.64 | 89.43 |
| Profit After Tax | 0.08 | 3.04 | 2.71 |
| Net Worth | 83.30 | 78.32 | 68.19 |
| Reserves and Surplus | 30.44 | ||
| Amount in ₹ Crore | |||
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:
| # | Issue 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. |
| 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% | 11.5% | 12% | 12.5% | 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 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,125.16 | Rs 1,254.4 | Rs 1,423.83 | Rs 1,000 | Rs 1,000 | Rs 2,000 |
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.
ICL Fincrop Limited is a non-deposit taking non-banking finance company (“NBFC”) offering gold loans and money lending against pledge of household gold ornaments (“Gold Loans”) in the states of Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat and Maharashtra. They also offer loans against real estate, business loans and personal loans.
The company specialises in granting gold loans to private individuals, mainly from the middle class. The gold loan business is based on customer focus, efficiency and a commitment to providing seamless financial services. The company focuses on servicing customers, disbursing loans and building an efficient local administration team. The company has invested in technology and processes that enable quick and easy customer registration.
The company offers competitive interest rates and customers can opt for different rates depending on their preferences and risk appetite. With interest-only repayment, customers pay only the interest amount throughout the term of the loan, while the principal amount is due at the end of the term. Structured repayment plans offer customers the option of repaying the loan in regular monthly instalments that include both the principal and interest. EMI schemes offer predictability in loan repayments and make budgeting easier for customers.
