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| Issue Size (Base) | ₹50.00 Cr |
| Issue Size (Shelf) | ₹100.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE |
| Tenor | 400 days, 24, 61, and 72 months. |
| Credit Rating | BBB +/Stable rating by Crisil Ratings Limited. |
| Series | Series I to VII |
| Payment Frequency | Monthly and Cumulative |
| 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 | |||
The Company proposes to utilize the funds towards funding the following objects:
| # | Issue Objects |
|---|---|
| 1 | For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company |
| 2 | General corporate purposes. |
| 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 |
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.
Indel Money Limited was established in the year 1986. Indel Money Limited is a non-deposit-taking financial institution and a systemic non-banking financial company ("NBFC") in the gold loan business, lending money against pledges of household gold jewellery ("Gold Loans") in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Odisha, Maharashtra and Telangana and the Union Territory of Puducherry. They also offer loans for real estate, business loans, and personal loans.
Indel Money is part of the Indel Group, which was founded by the late Palliyil Janardhanan Nair. The Indel Group started its operations in the regulated financial services business in a small village in Palakkad, Kerala, with a licence from the state government for money lenders. Over the years, the group has expanded its presence from a financial services company to an auto dealership, hospitality, infrastructure development, media, communications and entertainment.
The company is one of the few gold lending companies that has established a long-term, two-year gold lending programme to meet its customers' cash and liquidity needs. The company focuses on quick approval and disbursement of loans on the spot with minimal formalities that its customers need to complete in order to get a loan from us. The company has developed various gold loan programmes to meet the different needs of its customers. In order to offer differentiated services during the Covid-19 pandemic and to address the dilemma of customers who need a loan but cannot visit a branch, the company has introduced the 'Doorstep Gold Loan' system.
