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Indel Money NCD 2024- Details

NCD Status: Closed [30th Jan 2024 to 12th Feb 2024]

Rated 3/5 by Team InvestorGain
Indel Money NCD Detail

Indel Money Limited is issuing secured and redeemable NCDs with a base issue size of Rs 100.00 Cr and shelf issue size (*Not defined yet*). The subscription period is opening from 30 Jan 2024 to 12 Feb 2024 and the company is issuing Series I to VIII at an issue price of Rs. 1000 per NCD. The lot size of NCD is about 10 lots, so the total cost for NCD is Rs 10,000. The face value of each NCD is Rs. 1000. The tenure of the NCDs is 24, 36, 60 and 72 months with a coupon rate of 9.00% to 12.25% per annum.

Learn more about Indel Money Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.

Indel Money NCD Details

NCD Opening Date: 30th Jan 2024
NCD Closing Date: 12th Feb 2024
NCD Type: Secured NCD
Issue Size (Base): ₹100.00Cr
Issue Size (Shelf):
Face Value: Rs 1000 each NCD
Issue Price: Rs 1000 per NCD
Market Lot: 1 NCD
Min Order Qty: 10 NCD
Min Order Amount: Rs 10000
Listing at: BSE
Tenor: 366 days, 24, 36, 60 and 72 months
Rating: CRISIL BBB+/Stable by by CRISIL Ratings Limited

Series I to VIII

Payment Frequency: Monthly and Cumulative
Basis of Allotment:
Interest on return:
  1. The Pioneer Discount Broker
  2. Get 100% Free Delivery Trading
  3. Free Direct Mutual Funds & SIP

NCD Important Dates

Action Dates
NCD Activity Date
NCD Issue Open 30th Jan 2024
NCD Issue Close 12th Feb 2024
BSE Code: 3282
BSE Script Symbol: IMLIV

* - Tentative Dates

Offer Details

Category Name NCD's Reserved NCD's Allocated
Institutional 100000 10%
Non-Institutional 400000 40%
Retail 500000 50%

About Company - Indel Money

Indel Money Limited is a non-banking financial company-microfinance institution (NBFC-MFI) that was incorporated in 1986. The company offers gold loans against household gold ornaments in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Odisha, Maharashtra, and Telangana, as well as in the Union Territory of Puducherry. Additionally, the company provides loans against real estate, business loans, and personal loans.

Indel Group founded the company, and it began its financial services business operations in a small village in Palakkad, Kerala. The group held a money lending license from the state government at the time. The group expanded its presence from a financial services company to an automobile dealership, hospitality, infrastructure development, media, communication, and entertainment.

Indel Money Limited's lending process is supported by a proprietary IT platform that captures relevant customer data, approves the loan, and disburses it. The entire lifecycle of a gold loan, from approval to disbursement, has been digitised, enabling the creation of a Management Information System (MIS) in real time. The company's web-based, centralised IT platform collects data from all branches and manages the relevant information on loans and pledged gold. The company has also integrated all major payment methods, including UPI-based payments, into the e-connect platform, as well as its mobile applications, to increase customer convenience and positively impact the customer experience.

Indel Money Limited Financial Information (Restated Consolidated)

Indel Money Limited's revenue increased by 52.28% and profit after tax (PAT) rose by 871.56% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax28.6020.502.118.70
Net Worth
Amount in ₹ Crore

Indel Money NCD Objective

The Company proposes to utilize the funds towards funding the following 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.

Indel Money Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4Series 5Series 6Series 7Series 8
Frequency of Interest PaymentMonthlyCumulativeMonthlyCumulativeMonthlyCumulativeMonthlyCumulative
Tenor366 Days366 Days24 Months24 Months36 Months36 Months60 Months72 Months
Coupon (% per Annum)9.00%NA9.75%NA10.75%NA11.50%NA
Effective Yield (% per Annum)9.38%9.00%10.20%9.75%11.30%10.75%12.13%12.25%
Amount on Maturity (In Rs.)Rs 1,000.00Rs 1,090.00Rs 1,000.00Rs 1,204.51Rs 1,000.00Rs 1,358.41Rs 1,000.00Rs 2,000.41

Indel Money NCD Promoters

Indel Money NCD Rating Details

The NCDs proposed to be issued under this Issue have been rated CRISIL BBB+/Stable by CRISIL Ratings Limited. With this rating, they are considered to have a moderate degree of safety and moderate credit risk.

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Indel Money NCD Imporatant Links

  • Indel Money NCD DRHP >>Document
  • Indel Money NCD RHP >>Document
  • Indel Money NCD DRHP Shelf >>Indel Money NCD Draft Prospectus Shelf is not yet available.
  • Indel Money NCD RHP Shelf >>Indel Money NCD Red Herring Prospectus Shelf is not yet available.
  • Indel Money NCD Allotment Status >>Indel Money NCD Allotment is not declared yet, we will provide the link for status once allotment is out.

Company Address

Indel Money Limited
Office No.301, Floor No.3, Sai Arcade N.S Road,
Mulund West,
Mumbai,Maharashtra-400 080
Phone: +91 484 293 3989
Email: [email protected]

Indel Money NCD 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: [email protected]

Indel Money NCD Lead Manager

  1. Vivro Financial Services Private Limited
Indel Money NCD Important dates - Issue Open Date, close Date, NCD Listing Date. NCD Details - Offer Size, Issue Size, Type of IPO, Issue Price, Market Lot, BSE Cd, NSE Cd, NCD Listing date. What is the issue open date and close date for Indel Money? Should I apply in Indel Money NCD?

Last Updated on 2024-02-15T05:33:06+00:00

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