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INDEL MONEY NCD
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
Details of issue
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
Payment Frequency
Monthly, Annual and Cumulative
Basis of Allotment
First Come First Serve Basis
Objects of the Issue:
The company proposes to utilize the funds which are being raised through the Issue
For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company; and
For general corporate purposes.
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