CHENNAI: Kerala-based ICL Fincorp has announced launch of its public issue of secured redeemable non-convertible debentures (NCDs) on November 28.
The NCDs will be available for subscription till December 11, 2023, it said in a statement. This initiative presents investors with an opportunity for safe investment, promising high returns, and flexible tenure options.
ICL Fincorp has been rated Acuite BBB- STABLE. With a face value of Rs 1,000 each, the issue encompasses four schemes offering a total of 10 options (10 ISINs). The minimum application size is set at Rs 10,000, allowing investors of varying capacities to participate in this venture, the company said. Interest rates range from 11.00% to 13.01%. The NCD issue has tenure options of 13 months, 24 months, 36 months, 60 months and 68 months. Investors can opt to receive the payouts on a monthly, yearly or cumulative basis.