ICL Fincorp to launch ₹100 crore NCD issue offering 12.62% effective yield

ICL Fincorp, a Tamil Nadu-based non-banking financial company, on Friday said it is launching a Rs 100-crore public issue of secured redeemable non-convertible debentures (NCDs). The NCDs will offer an effective yield of 12.62 per cent.

 

The issue has a base size of Rs 50 crore and a green-shoe option of Rs 50 crore. The instruments are rated BBB- by domestic rating agency Crisil.

 

The proceeds will be used by the company to support its growth initiatives and enhance the quality of services provided to customers and stakeholders across India.

 

The NCDs have tenors of 13, 24, 36 and 70