Founded in 1986, Indel Money Limited operates as a noteworthy non-deposit-taking non-banking finance company (NBFC) sanctioned by the Reserve Bank of India (RBI). The core focus of the company resides in the realm of gold loans, extending financial support by leveraging household gold jewelry as collateral. Beyond this specialized offering, the company diversifies its portfolio to include loans against property, business loans, and personal loans.
Indel Money Limited’s reach is particularly impactful within rural and semi-urban regions, where a substantial portion of its gold loan clientele hails. As of August 31, 2021, the company has strategically positioned a network of 191 branches across Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and the union territory of Puducherry. To manage and streamline its operations, the company has instituted a web-based centralized IT platform. This platform facilitates seamless coordination of loan-related activities and provides an avenue for borrowers to engage with their loan particulars. Enriching customer accessibility, Indel Money Limited has ventured into the digital realm, offering web applications through the Google Play Store and the iOS App Store. Adding to its technological prowess, the company has introduced a dedicated web-based payment portal named E-Connect, fostering operational efficiency across its business spectrum.
Indel Money NCD June 2023 Detail #
| Issue Open | Jun 6, 2023 – Jun 19, 2023 |
| Security Name | Indel Money Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50.00 Crores |
| Issue Size (Shelf) | Rs 100.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | BBB +/Stable rating by Crisil Ratings Limited. |
| Tenor | 400 days, 24, 61, and 72 months. |
| Series | Series I to VII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vistra Itcl India Limited |
Indel Money Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 400 Days | 400 Days | 24 Months | 24 Months | 61 Months | 61 Months | 72 Months |
| Coupon (% per Annum) | 9.00% | NA | 10.50% | NA | 11.50% | NA | NA |
| Effective Yield (% per Annum) | 9.38% | 9.00% | 11.02% | 10.75% | 12.13% | 11.50% | 12.25% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,098.75 | Rs 1,000.00 | Rs 1,226.56 | Rs 1,000.00 | Rs 1,738.67 | Rs 2,000.41 |
NCD Rating #
The company has received a rating of BBB +/Stable (pronounced as CRISIL triple B plus rating with Stable outlook) by Crisil Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Company Financials #
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 501.99 | 94.66 | 8.75 |
| 31-Mar-22 | 736.55 | 123.00 | 2.11 |
| Amount in ₹ Crore | |||
Objects of the Issue #
The Company proposes to utilize the funds towards funding the following objects:
- For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company
- General corporate purposes.
Indel Money NCD June 2023 Prospectus #
Indel Money NCD June 2023 Subscription Status #
The Indel Money NCD June 2023 was subscribed 1.89 times on Jun 19, 2023 5:00:00 AM. The NCD subscribed 2.49 times in Retail, 1.63 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.49x |
| Non-Institutional | 1.63x |
| Institutional | 0.00x |
| Total | 1.89x |
Check Day by Day Bidding Details
Company Contact Information #
Office No.301, Floor No.3,
Sai Arcade N.S Road,
Mulund West, Mumbai – 400 080Phone: +91 484 293 3989
Email: care@indelmoney.com
Website: http://www.indelmoney.com/
Indel Money NCD June 2023 Registrar #
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: indelmoney.ncd3@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
