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| Issue Size (Base) | ₹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 | 366 days, 24, 36, 60 and 72 months |
| Credit Rating | CRISIL BBB+/Stable by by CRISIL Ratings Limited |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
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 Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,133.80 | 1,013.90 | 736.80 | 502.20 |
| Revenue | 143.40 | 187.30 | 123.00 | 94.70 |
| Profit After Tax | 28.60 | 20.50 | 2.11 | 8.70 |
| Net Worth | ||||
| 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 | Series 8 | |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 366 Days | 366 Days | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 72 Months |
| Coupon (% per Annum) | 9.00% | NA | 9.75% | NA | 10.75% | NA | 11.50% | 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 1,000.00 | Rs 1,090.00 | Rs 1,000.00 | Rs 1,204.51 | Rs 1,000.00 | Rs 1,358.41 | Rs 1,000.00 | Rs 2,000.41 |
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.
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.
