The Kerala based ICL Fincorp, a fast-growing NBFC, has announced the launch of public issue of secured redeemable Non-Convertible Debentures (NCDs) from January 8.

With a Crisil BBB- stable rating, the NCD offering gives investors returns, with effective yields of up to 13.73 per cent. The issue will remain open until January 21 and the issue shall be closed on an earlier date if fully subscribed, a press release said.

The NCDs come with a face value of ₹1,000 each and offer four different schemes, providing 10 investment options. Investors can participate with a minimum application size of ₹10,000. The interest rates range between 11 to 13.01 per cent. Investors can download the prospectus from www.iclfincorp.com.

Funds raised through the will be utilised to fuel the company’s gold loan sector with continued growth and expansion, the release said.  

Founded over 32 years ago, ICL Fincorp has branches across Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, Maharashtra, and Gujarat. Its acquisition of Salem Erode Investments, a BSE-listed NBFC with over 92 years of service in Tamil Nadu, further strengthens the company’s market position.

ICL Fincorp offers a wide array of financial services, including gold loans, hire purchase loans, investment options, home and health insurance, and life insurance.

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