The Indel Money Issue Open has been confirmed from January 30, 2024 – February 12, 2024.
Indel Money Developers IPO is a fixed issue size of ₹ 67,132.98 lakhs. Indel Money Limited is a non-deposit, non-banking finance business (NBFC) registered with the RBI. The company specialises in gold loans, giving money in exchange for household gold jewellery as collateral. The organisation also offers loans against property, commercial loans, and personal loans.
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Bidding Dates
Jan 30-Feb 12
Issue Price
Rs 1000 per NCD
Face Value
Rs 1000 each NCD
Market Lot
1 NCD
Indel Money NCD
The Indel Money NCD Face Value is Rs 1000 each NCD.
IPO Overview
The majority of the company’s gold loan customers come from rural and semi-urban locations. As of September 30, 2023, the corporation operated 250 branches across Kerala, Tamil Nadu, Karnataka, Odisha, Maharashtra, and Telangana, as well as the union territory of Puducherry. The company’s web-based centralised IT platform keeps track of all branches and manages loan and other information. The company has also launched online applications on Google Play and the iOS App Store. The company created E-Connect, a web-based payment interface that helps businesses run more efficiently.
As of September 30, 2023, 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.
Indel Money NCD Detail
| 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 |
Indel Money Limited Financial Information
| 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 | ||||
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 |
Indel Money Limited NCD Allocation Ratio
Company Profile
Objects of the Issue
The Company proposes to utilize the funds towards funding the following objects:
- For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company
- General corporate purposes.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | investors@vivro.net |
| Website | linkintime.co.in |
Contact Details
| Name | Indel Money Limited |
| Phone number | +91 484 293 3989 |
| Email ID | care@indelmoney.com |
| Website | indelmoney.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
