Indel Money Limited, a non-deposit-taking non-banking finance company (NBFC) in India that was established in the year 1986, is issuing the NCD (NON-CONVERTIBLE DEBENTURES). The NCDs are being issued from 6th June 2023 to 19th June 2023. Through this issue, the company aims at issuing Rs 100 crores. The company is offering a coupon rate (rate of interest) of up to 11.50% on investments. In this issue, the NCDs will be issued at a price of Rs 1,000 and the minimum order quantity would be 10 NCDs. Let’s delve deeper into the specifics of the Indel Money NCD issue and explore more details.
About Indel Money Limited
Indel Money Limited, established in 1986, is a reputable non-deposit-taking non-banking finance company (NBFC) regulated by the RBI. Specializing in gold loans, the company provides financial assistance by accepting gold jewelry as collateral. Additionally, they offer loans against property, business loans, and personal loans.
Catering primarily to customers in rural and semi-urban areas, Indel Money Limited operates through 191 branches across states such as Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and the union territory of Puducherry. Their centralized web-based IT platform efficiently manages loan-related data across all branches. The company has also introduced user-friendly mobile applications available on the Google Play Store and iOS App Store. To further streamline operations, they have developed a web-based payment portal called E-Connect.
Indel Money Limited’s competitive strengths include being a prominent non-deposit-taking NBFC in the gold loan sector of South India, boasting a strong operating history. Their long-term gold loan schemes are highly beneficial for customers, and the convenience of doorstep loan delivery adds to their appeal. With an extensive and expanding branch network in rural and semi-urban regions of South India, the company is supported by an experienced management team and skilled personnel.
Indel Money NCD 2023 – Issue Details
| Issue Type | Secured, Redeemable, Non-Convertible Debentures |
| Issuer Company | Indel Money Limited |
| Issue Opens | 6-June-2023 |
| Issue Closes | 19-June-2023 |
| Coupon Rate (ROI) | Up to 11.50% |
| Face Value | Rs 1,000 |
| Issue Price | Rs 1,000 |
| Minimum Order Quantity | 10 NCD (Rs 10,000) |
| Issue Size | Base – 50 Cr, Shelf – 100 Cr |
| Listing | BSE |
| Listing Date | Within 6 Working Days of Issue Closing Date |
Indel Money NCD 2023 – Objects of the Issue
The Company proposes to utilize the funds towards funding the following objects:
- For the purpose of onward lending, financing, and repayment/prepayment of principal and interest on borrowings of the Company
- General corporate purposes.
Rating of the Indel Money NCD Issue
This NCD issue has been rated BBB +/Stable by Crisil Ratings Limited.
Indel Money Limited – Company Contact Details
Address: Indel Money Limited, Office No.301, Floor No.3, Sai Arcade N.S Road, Mulund West, Mumbai – 400 080
Phone: +91 484 293 3989
Email: care@indelmoney.com
Website: http://www.indelmoney.com/
Indel Money NCD 2023 – Lead Manager of the Issue
The lead manager for this upcoming IPO issue is Vivro Financial Services Private Limited
Indel Money NCD 2023 – Registrar of the Issue
The registrar of this upcoming IPO issue is Link Intime India Pvt Ltd.
Issue Documents
Please click here to read the final issue prospectus for detailed information on Indel Money NCD issue 2023.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
