Private EquityScreenerRefer

MARKET INSIGHTS

  • EventsNEWPrivate market milestones
  • NewsPrecize daily pulse
  • BlogsIn-depth articles and opinions

GUIDES

Explore Now
  • Unlisted SharesStep-by-step · KYC
  • BuyingStep-by-step · KYC
  • SellingExit in 24 - 48 hours
  • Pre-IPOReturns · risks · case studies
  • Tax GuideBudget 2026 changes
  1. Home
  2. Unlisted share news
  3. ICL Fincorp expands in Mumbai with five new branches and a regional off…

ICL Fincorp expands in Mumbai with five new branches and a regional office: Initiating the first step of larger expansion

26 Sept 2023

Add as preferred source
Key Takeaways

  • The opening of the new branches will lead to increased operations of the company & might the company towards profitability in future.

  • The opening of the new branches will lead to increased operations of the company & might the company towards profitability in future.

ICL Fincorp Unlisted Shares

ICL Fincorp

-3.35%

Expert Analysis

ICL FinCorp, a leading gold-oriented NBFC, initiates the first step of larger expansion.

Justification

  • With 32 years of serving as a preferred financial partner, the company is expanding in Mumbai. They have opened 5 new branches and a regional office, with plans to establish 25 more branches in Mumbai during the financial year.

  • Adding to the existing 350 branches, the new branches will be inaugurated by Chairman & MD K. G. Anilkumar. In contrast, Whole-time Director Uma Anilkumar will inaugurate the new business launch on 22nd September.

  • The new branches and a regional office will be located in Matunga, Mulund, Vasai, Borivali, and Ulhasnagar.

  • The company acquired Salem Erode Investments, a BSE-listed NBFC with over 92 years of service in Tamil Nadu, & launched 'ICL Support' for underprivileged upliftment.

  •  Additionally, they've expanded to the Middle East with ICL Investments LLC and Gold Trading. & have also diversified into travel & tourism, fashion, health diagnostics, and charitable trusts.


Publisher:Mid-Day