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Incorporated in 1986, Indel Money Limited is a non-deposit-taking non-banking finance company (NBFC) registered with RBI. The company deals in the gold loan sector, lending money against the pledge of household gold jewelry. The company also provides loans against property, business loans, and personal loans.
As of September 30, 2023, the total loans and advances amounted to ₹ 67,132.98 lakhs, with Fiscal 2023, 2022 and 2021 accounting for ₹50635.60 lakhs, ₹ 42,135.99 lakhs and ₹ 30,994.35 Lakhs respectively, representing 82.13%, 78.18%, 80.46% and 77.71% of the total.
The company's gold loan customers are primarily from rural and semi-urban areas. As of September 30, 2023, the company had a network of 250 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Odisha, Maharashtra and Telangana, and the union territory of Puducherry. The company's web-based centralized IT platform records details of all branches and handles the management of the loan and related information. The company has also launched its web applications on the Google play store & the iOS App Store. The company has developed its web-based payment portal named E-Connect which helps makes business operations more efficient.
Competitive strengths of the company
| Issue Open | January 30, 2024 - February 12, 2024 |
| Security Name | Indel Money Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 100.00 Crores |
| Overall Issue Size | Rs 200.00 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 | CRISIL BBB+/Stable by by CRISIL Ratings Limited |
| Tenor | 366 days, 24, 36, 60 and 72 months |
| Series | Series I to VIII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 100,000 |
| Non-Institutional | 400,000 |
| Retail | 500,000 |
| Category 4 | 0 |
| Total NCD's | 1,000,000 |
Indel Money Limited NCD Coupon Rates
| # | 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'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:
The Indel Money NCD January 2024 was subscribed 0.90 times on February 12, 2024 5:00:00 PM. The NCD subscribed 1.10 times in Retail, 0.87 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.10x |
| Non-Institutional | 0.87x |
| Institutional | 0.00x |
| Total | 0.90x |
9 4.2 Rating:  Vote Here ... |
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/
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: investors@vivro.net
Website: https://linkintime.co.in/initial_offer/public-issues.html
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