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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.
The company's gold loan customers are primarily from rural and semi-urban areas. As of August 31, 2021, the company had a network of 191 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, 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 | June 6, 2023 - June 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 |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 50,000 |
| Non-Institutional | 200,000 |
| Retail | 250,000 |
| Category 4 | 0 |
| Total NCD's | 500,000 |
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 |
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.
| 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:
The Indel Money NCD June 2023 was subscribed 1.89 times on June 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 |
16 3.9 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: indelmoney.ncd3@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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