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Indel Money Limited NCD (Indel Money NCD May 2022) Detail

May 27, 2022 - Jun 22, 2022
Indel Money Limited Logo

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, and Telangana, and the union territory of Puducherry. The company's web-based centralized IT platform records details of all branches and handles 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

  • Non-deposit taking NBFC in the Gold Loan sector in South India with a long operating history
  • Long term gold loan schemes which are beneficial for customers
  • Doorstep delivery of gold loans
  • Well-established and growing branch network across rural and semi-urban areas in South India
  • Experienced management team and skilled personnel 

Indel Money NCD May 2022 Detail

Issue Open May 27, 2022 - Jun 22, 2022
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 50.00 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 Acuite BBB+/Stable by Acuite Ratings & Research Limited
Tenor 366 days, 18, 24, 61 and 77 Months
Series

Series I to Series VIII

Payment Frequency Monthly and Cumulative
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 0%
Category 2 0%
Category 3 0%
Category 4 0%

NCD's Offered by Category

Category ? NCD's Reserved
Category 1 50,000
Category 2 200,000
Category 3 250,000
Category 4 0
Total NCD's 500,000

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
Tenor 366 days 366 days 18 months 18 months 24 months 24 months 61 months 77 months
Coupon Rate (Retail) 9.00% NA 9.50% NA 10.55% NA 11.00% NA
Effective Yield (% per Annum) 9.38% 9.00% 9.92% 9.75% 11.08% 10.75% 11.57% 11.50%
Amount on Maturity 1,000.00 1,090.00 1,000.00 1,149.76 1,000.00 1,226.56 1,000.00 2,010.70

NCD Rating

The issue has been rated Acuite BBB+/Stable by Acuite Ratings & Research Limited. Instruments with this rating are considered to have a moderate degree of safety and moderate credit risk.

Company Promoters

Indel Corporation Private Limited is the promoter of the company.

Company Financials

Summary of Consolidated financial Information
Particulars For the year/period ended (₹ in Crores)
  31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 479.52 378.17 263.41
Total Revenue 94.48 63.07 42.87
Profit After Tax 9.49 2.19 1.56

Objects of the Issue

The company proposes to utilise the funds which are being raised through the Issue

  1. For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company; and
  2. For general corporate purposes.

Indel Money NCD May 2022 Prospectus

Indel Money NCD May 2022 Subscription Status

The Indel Money NCD May 2022 is subscribed 1.72x times on Jun 22, 2022 1:00:00 AM. The ncd subscribed 2.11x times in the retail category, 0.00x times in the QIB category, and 1.66x times in the NII category.

Category ?Subscription (times)
Category 1 (QIB)0.00x
Category 2 (NII)1.66x
Category 32.11x
Total1.72x

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Indel Money NCD May 2022 Rating

15
3.1
Rating:Rated 3.1 stars
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Indel Money NCD May 2022 Reviews

Company Contact Information

Indel Money Limited
Office No.301, Floor No.3,
Sai Arcade N.S Road,
Mulund West, Mumbai 400 080,

Phone: +91 484 293 3988;
Email: cs@indelmoney.com
Website: https://indelmoney.com/

Indel Money NCD May 2022 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: indelmoney.ncd2@linkintime.co.in
Website: https://linkintime.co.in/

Indel Money NCD May 2022 Lead Manager(s)


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