ICL Fincorp to acquire Salem Erode Investments

Kerala-based ICL Fincorp has announced to acquire Kolkata-based non-banking finance company Salem Erode Investments Limited, through a share purchase agreement of 74.27% of the company’ ..

The company which focuses on gold loan has proposed to release public issue of secured Non-Convertible Debenture by the end of FY 2019-20, for Rs 100 crore. ICL Fincorp has obtained trade licence in Dubai, United Arab Emirates in the similar trade name ICL Fincorp, as part of company’s overseas expansion plan.