If there are no more skeletons in the closet (which management claims to be the case) then ICFL looks a very lucrative bet. We will have to wait till Q4 23 results to know for sure.
I am invested and adding more below 2000 Cr mcap.
Investment Thesis:
- change of management recently
- progressive retailization of loan book
- one time book clean up that happed earlier this year
- home finance division looks to be doing really well already; this fund raise will give a further fillip to overall valuations
- Deloitte saying no more a going concern
- backed by high quality promoters (in 22 AR Bobby Parekh came clean – I liked his courage and honesty); Brookfield has a major stake and this is their lone investment in India
Disc.: invested; dont go by what i say because mostly get my thesis wrong 
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