Indel Money Limited NCD (Indel Money NCD October 2024) Detail

October 21, 2024 - November 4, 2024

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 jewellery. The company also provides loans against property, business loans, and personal loans.

The company is present in the states of Haryana, Uttar Pradesh, Delhi, Madhya Pradesh, Odisha, Maharashtra, Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Andaman and Nicobar, Gujarat, and the union territory of Puducherry.

The Gold Loan portfolio for the quarter ended June 30, 2024, and Fiscal 2024, 2023, and 2022 amounted to Rs 91,481.95 lakhs, Rs 87,376.26 lakhs, Rs 57,923.24 lakhs, and Rs 42,275.76 lakhs, which is 85.70%, 84.64%, 79.35%, and 80.51% of the total loans and advances as of those dates.

The company's gold loan customers are primarily from rural and semi-urban areas. As of August 31, 2024, the company had a network of 320 branches spread in Kerala, Tamil Nadu, Karnataka, Odisha, Maharashtra and Telangana, and the union territory of Puducherry. The company's web-based centralized IT platform records all branches' details and handles the loan's management and related information. The company has also launched its web applications on the Google Play Store & and the iOS App Store. The company has developed its web-based payment portal named E-Connect which helps makes business operations more efficient.

As of August 31, 2024, the company had a total of 1731 employees.

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 that are beneficial for customers
Doorstep delivery of gold loans
Well-established and growing branch network across rural and semi-urban areas in South India
The experienced management team and skilled personnel

Indel Money NCD October 2024 Detail

Issue Open	October 21, 2024 - November 4, 2024
Security Name	Indel Money Limited
Security Type	Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)	Rs 75.00 Crores
Issue Size (Oversubscription)	Rs 75.00 Crores
Overall Issue Size	Rs 150.00 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 Limited.
Tenor	366 days, 18, 30, 60 and 66 months
Series	Series I to VII
Payment Frequency	Monthly and Cumulative
Basis of Allotment	First Come First Serve Basis
Debenture Trustee/s	Vistra Itcl India Limited

NCD Allocation Ratio

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

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	Monthly	Cumulative	Monthly	Cumulative
Nature	Secured	Secured	Secured	Secured	Secured	Secured	Secured
Tenor	366 Days	366 Days	18 Months	30 Months	30 Months	60 Months	66 Months
Coupon (% per Annum)	10%	NA	10.5%	11%	NA	12%	NA
Effective Yield (% per Annum)	10.47%	10%	11.02%	11.57%	11%	12.68%	13.44%
Amount on Maturity (In Rs.)	Rs 1,000	Rs 1,100.29	Rs 1,000	Rs 1,000	Rs 1,298.1	Rs 1,000	Rs 2,000.85

NCD Rating

The NCDs proposed to be issued under this Issue have been rated CRISIL BBB+/Stable by CRISIL Ratings Limited. With this rating, they are considered to have a moderate degree of safety and moderate credit risk.

Company Financials

Indel Money Limited Financial Information (Restated Consolidated)

Indel Money Limited's revenue increased by 55% and profit after tax (PAT) rose by 94% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	1,244.93	1,005.45	736.79
Revenue	291.13	187.3	123
Profit After Tax	39.86	20.54	2.11
Net Worth	211.18	161.63	100.48
Amount in ₹ Crore

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.

Indel Money NCD October 2024 Prospectus

› Draft Prospectus
› Red Herring Prospectus

Indel Money NCD October 2024 Subscription Status

The Indel Money NCD October 2024 was subscribed 1.57 times on November 4, 2024 5:00:00 PM. The NCD subscribed 1.98 times in Retail, 1.43 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?	Subscription (times)
Retail	1.98x
Non-Institutional	1.43x
Institutional	0.00x
Total	1.57x

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Indel Money NCD October 2024 Rating

3.4

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Indel Money NCD October 2024 Reviews

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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 3989
Email: care@indelmoney.com
Website: http://www.indelmoney.com/

Indel Money NCD October 2024 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.ncd2024@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Indel Money NCD October 2024 Lead Manager(s)

Vivro Financial Services Private Limited

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5 Comments

5. Pramod Apurva

| Link|October 30, 2024 2:08:24 PMReply

Indel money NCD cannot be applied on line via ASBA rout because of bogus website system. They insist to apply via UPI which is not safe. All co. those collect money for IPO prefer ASBA for which subscription remains open for 3/4 days only. Indel money management is of NO USE.

4. RABINDRA PRASAD

| Link|October 21, 2024 3:01:27 PMReply

Indel money limit NCD kya closed ho gaya
Kaise invest kar sakta hu isme.

4.1. Amit

| Link|October 26, 2024 8:21:18 PM

You can reach them directly, i have direct kerala office contact.

3. AMBASTA

| Link|October 13, 2024 1:09:29 PMReply

WHY SEBI SHOULD LOOK WHY NOT PUBLIC WHO INVEST INTO IT AFTER KNOWING THE FACTS THAT BANK ONLY OFFERS MAX 7 TO 8 % INTEREST AND WHY THIS NCD OFFERS 12%. IT CAN'T HAPPEN INTEREST HIGHER AND HIGHER BUT SAFETY LIKE BANK FD. I PERSONALLY HAVE INVESTMENT A GOOD AMOUNT INTO DIFFERENT NCD BUT WILL NEVER BLAME ANY ONE IF ANY THING GOES WRONG.

3.1. Julious

| Link|October 22, 2024 5:07:59 PM

I am even investing in NCD by taking gold loans from nationalized banks at 9%.
50L will fetch 1L simply with a 2% difference. Good to have the gold in the bank locker than in our locker. Let it make money.

2. Satya Prakash Mishra

| Link|October 10, 2024 12:08:20 PMReply

Secured NCD ka kya matlab hota hai kripya koi samjhane ki koshish karen. agar maan liya company fault Ho gai toh, invester ko kitne din mein Paisa wapas ho jata hai aur vah Paisa Kaun return karta hai???

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2.2. Sanket A

| Link|October 11, 2024 2:05:11 PM

Secure NCD means, in case of gold loans, if the company goes bankrupt, the courts will auction off all the gold jewellery company has at the time, and repay whoever has kept their secure NCD until repayment. This may take even 10 years, and you may not get all the money back.

2.3. Julious

| Link|October 22, 2024 5:02:28 PM

Even if the settlement takes 10 years, since the gold price is going up why the investor will not get the money back. They can give only 60-70% of the price of the gold pledged. In case they are giving loans intentionally on impure gold of without security, then we will have an issue..

1. Satya Prakash

| Link|October 10, 2024 1:15:56 PMReply

To iska matlab secured bolkar sirf public ko Luta jata hai. kya yah chij SEBI nahin dekhti ya 90% yah iska amount SEBI kha jaati hai.