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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.
Competitive strengths of the company
| 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 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 |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category 4 | % |
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 |
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.
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 | ||||||||||||||||||||||||||||||
The Company proposes to utilize the funds towards funding the following objects:
2 2.0 Rating:  Vote Here ... |
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/
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
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