Description

BSE lists 10 series of Secured Redeemable Non-Convertible Debentures (NCDs) of ICL Fincorp Limited allotted on February 23, 2026, with coupon rates ranging from 10% to 11.5% per annum and maturities between 2027 and 2032.

Summary

BSE has listed 10 series of Secured, Redeemable, Non-Convertible Debentures (NCDs) issued by ICL Fincorp Limited, allotted on February 23, 2026. The NCDs have a face value and issue price of Rs. 1,000 each and carry a credit rating of CRISIL BBB-/Stable. The series span monthly, annual, and cumulative interest payment options with coupon rates from 10% to 11.5% p.a. and effective yields up to 12.25% p.a.

Key Points

  • 10 NCD series (Options I–X) listed on BSE with scrip codes 940898 to 940915
  • Face value and issue price: Rs. 1,000 per NCD; market lot: one NCD
  • Total securities across all options: approximately 958,710 NCDs
  • Coupon rates: 10.00%, 10.50%, 11.00%, 11.50% (monthly/annual); Not Applicable for cumulative options
  • Effective yields range from 10.47% to 12.25% per annum
  • Redemption amounts vary: Rs. 1,000 for periodic options; Rs. 1,114.23, Rs. 1,232.10, Rs. 1,386.20, and Rs. 2,000 for cumulative options
  • Credit rating: CRISIL BBB-/Stable
  • Put/Call option: Not Applicable

Regulatory Changes

No regulatory changes. This is a standard debt listing notification under BSE listing regulations for privately placed NCDs.

Compliance Requirements

  • ICL Fincorp Limited must comply with BSE’s ongoing disclosure and reporting obligations for listed debt securities
  • Interest/redemption payments must be made as per the schedule notified to the exchange
  • ISIN-wise compliance with depository regulations (NSDL/CDSL) for demat holdings

Important Dates

  • Date of Allotment: February 23, 2026
  • First Interest Payment Date (Options I–IV, VIII–IX): April 1, 2026 (monthly/annual series); February 23, 2027 (annual series VIII & IX)
  • Redemption Dates:
    • Option I & V: March 23, 2027
    • Options II, VI, VIII: February 23, 2028
    • Options III, VII, IX: February 23, 2029
    • Option IV: February 23, 2031
    • Option X: February 23, 2032

Impact Assessment

This listing is routine and limited in market impact. ICL Fincorp Limited is a non-banking financial company (NBFC) with a CRISIL BBB-/Stable rating, indicating moderate credit quality. The NCDs are targeted at retail and institutional fixed-income investors seeking yields in the 10.47%–12.25% range. The listing provides liquidity to NCD holders on BSE’s debt market segment. No impact on equity markets or broader trading operations is expected.

Impact Justification

Routine debt listing of NCDs for a BBB-rated NBFC; relevant primarily to fixed-income investors holding these instruments, with no broader market or regulatory impact.