ICL Fincorp NCD Public Issue With 11-12.50 % Coupon Rate From April 25

The coupon rate for the NCD has been fixed between 11 per cent to 12.50 per cent for tenures of 13, 24, 36, 60 and 68 months.

Kerala based ICL Fincorp, a non banking finance company announced Rs 100 crore non convertible debentures(NCD) public issue that opens on April 25. The coupon rate for the NCD has been fixed between 11 per cent to 12.50 per cent for tenures of 13, 24, 36, 60 and 68 months. NCDs being issued have Crisil's BBB minus rating. This is the fifth series of NCD public issue from ICL Fincorp which aims to raise minimum Rs 50 crore with a green shoe option to retain oversubscription of Rs 50 crore. ICL Fincorp is a non-deposit-taking and base layer NBFC in the business of gold loans, which lends money against the pledge of household gold ornaments (gold loans) in 11 states including Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat and Maharashtra. Company is planning to open branches in 10 more states by end of second quarter of FY 26, said a company official.