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ICL Fincorp plans to go public in the next 15 months through a reverse merger
ICL FINCORP LIMITED
Created at 16 Nov 2020 20:20

ICL Fincorp, a Kerala-based gold loan non-banking finance company, is hoping to go public within the next 15 months. After acquiring a 74.27% interest in Kolkata-based listed NBFC player Salem Erode Investments, the company qualified for listing under the reverse merger method. The reverse merger method allows an unlisted firm to avoid the lengthy and complex process of going public. "For the merger, we have already received clearances from SEBI and RBI Chennai and Kolkata, and we expect all requisite processes for listing to be completed in another 15 months," said the company.

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