Description

BSE lists three series of secured non-convertible debentures issued by ICL Fincorp Limited on private placement basis with face value of Rs. 100,000 each, rated CRISIL BBB-/Stable.

Summary

BSE has listed and admitted to trading three series of secured non-convertible debentures issued by ICL Fincorp Limited on private placement basis, effective October 10, 2025. The securities were allotted on October 8, 2025, with tenures ranging from 3 to 6 years, interest rates between 11.50% to 12.62% p.a., and face value of Rs. 100,000 each. All securities carry CRISIL BBB-/Stable credit rating.

Key Points

  • Three NCD series listed: IFL-11.50%-8-10-28-PVT (175 units), IFL-12.25%-8-10-29 (145 units), and IFL-12.6%-8-8-31 (29 units)
  • Total issue size: 349 debentures aggregating Rs. 3.49 crore
  • Face value and issue price: Rs. 100,000 per debenture
  • Credit rating: CRISIL BBB-/Stable for all three series
  • Market lot: 1 debenture
  • Securities tradable only in dematerialized form
  • Tick size: 1 paise

Regulatory Changes

No regulatory changes introduced through this circular.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under the specified ISIN numbers
  • Members must refer to the Placement Memorandum available on BSE website for complete details
  • Standard debt segment trading and settlement norms applicable

Important Dates

  • Date of Allotment: October 8, 2025 (all three series)
  • Listing Date: October 10, 2025
  • Interest Payment (Series 1): Monthly from December 1, 2025 to October 7, 2028
  • Redemption Dates:
    • Series 1 (Scrip Code 977197): October 8, 2028
    • Series 2 (Scrip Code 977198): October 8, 2029
    • Series 3 (Scrip Code 977199): August 8, 2031

Impact Assessment

Market Impact: Minimal - This is a routine private placement listing with limited liquidity given the high face value and small issue size.

Investor Impact: Provides additional fixed-income investment options for institutional and HNI investors seeking exposure to NBFC paper with BBB- credit rating and yields between 11.50% to 12.62%.

Operational Impact: Trading members can now facilitate trades in these securities on BSE Debt segment. Put options available as per Key Information Document provide early exit flexibility to investors.

Impact Justification

Routine listing notification for private placement debt securities of a single company with limited market-wide impact