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Indel Money Limited NCD (Indel Money NCD Sep 2021) Detail

Sep 23, 2021 - Oct 18, 2021
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 Sep 2021 Detail

Issue Open Sep 23, 2021 - Oct 18, 2021
Security Name Indel Money Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)
Issue Size (Base) Rs 75.00 Crores
Issue Size (Shelf) Rs 75.00 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 CRISIL Ratings
Tenor 366 days, 18, 36, 54, 61 and 71 Months
Series

Series I to Series XI

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

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ? NCD's Allocated
Institutional 10%
Non-Institutional 40%
Retail 50%
Category 4 0%

NCD's Offered

NCD's offered in each investor category:

Category ? NCD's Reserved
Institutional 75,000
Non-Institutional 300,000
Retail 375,000
Category 4 0
Total NCD's 750,000

Coupon Rates

Coupon Rates for Each Series

Series Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8 Series 9 Series 10 Series 11
Tenor Secured NCDs Unsecured NCDs
Type of Instrument 366 days 18 Months 36 Months 54 Months 61 Months 71 Months
Frequency of Interest Payment Monthly Cumulative Monthly Cumulative Monthly Annual Cumulative Monthly Monthly Annual Cumulative
Coupon Rate % Per Annum 9.25% NA 10.50% NA 10.75% 10.75% NA 11.00% 12.00% 12.00% NA
Effective Yield (%) 9.65% 9.25% 11.02% 10.72% 11.30% 10.75% 10.82% 11.75% 12.68% 12.00% 12.43%
Amount on Maturity Rs.1,000.00 Rs.1,092.75 Rs.1,000.00 Rs.1,165.00 Rs.1,000.00 Rs.1,000.00 Rs.1,361.00 Rs.1,000.00 Rs.1,000.00 Rs.1,000.00 Rs.2,000.00

NCD Rating Detail

The issue has been rated “CRISIL BBB/Stable” by CRISIL Ratings Limited. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations.

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 Sep 2021 Prospectus

Indel Money NCD Sep 2021 Rating

15
2.8
Rating:Rated 2.8 stars
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Indel Money NCD Sep 2021 Reviews

Company Contact Information

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

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

Indel Money NCD Sep 2021 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.ncd@linkintime.co.in
Website: http://www.linkintime.co.in


1 Comments

1. Krats  Sep 25, 2021 12:29 I Like It. | Report Abuse Reply
Interests are looking attractive, is it worth investing? Please suggest.
1.1. PowerUser  Oct 7, 2021 19:58 I Like It. | Report Abuse
Credit Rating      ‘"CRISIL BBB/Stable" by CRISIL Ratings
means its risky. High risk high interest rate. Based on your risk apatite take decision.