[.]| Listing at BSE | Tue, Jun 6, 2023 - Mon, Jun 19, 2023
Indel Money Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹100.00 Cr with a base issue size of ₹50.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Indel Money Ltd. NCD issue opens on Jun 6, 2023 and closes on Jun 19, 2023. NCD are proposed to be listed on BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 9.00% per annum to 11.50% per annum, depending on the series and tenure selected.
The NCD has been rated: .
Vivro Financial Services Pvt.Ltd. is the Lead Manager to the issue, Vistra ITCL India Ltd. is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Tue, Jun 6, 2023
Close Date
Mon, Jun 19, 2023
Issue Size (Overall)
[.]
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 |
| 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 | |||
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 10.00% | 50,000 |
| Non-Institutional | 40.00% | 2,00,000 |
| Retail | 50.00% | 2,50,000 |
| Total | 100.00% | 5,00,000 |
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
The Company proposes to utilize the funds towards funding the following objects:
[Dilip Davda] Though this debt offer has lucrative coupon rates, the average rating from a changed rating agency raises concern. Well-informed/Cash surplus/risk seekers investors may consider parking funds, while others may ignore it. Read detail review...
The Indel Money NCD June 2023 was subscribed 1.89 times on Jun 19, 2023 05:00. The NCD subscribed 2.49 times in Retail, 1.63 times in Non-Institutional, and 0.00 times in Institutional category.
Indel Money Ltd.
Office No.301, Floor No.3,
Sai Arcade N.S Road,
Mulund West, Mumbai - 400 080
Mulund, Maharashtra, 400080
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Indel Money Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
