Indel Money NCD January 2024 Description – The company is a non-deposit taking and a non – systemically important non-banking finance company (NBFC) in the gold loan sector lending money against the pledge of household gold jewellery (Gold Loans) in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Odisha, Maharashtra, and Telangana and the union territory of Puducherry. The company also provides loans against property, business loans, and personal loans.
Its Gold Loan portfolio for the half year ended 30 September 2023, and FY 2023, 2022, and 2021 amounted to INR 671.33 crore, INR 506.36 crore, INR 421.36 crore, and INR 309.94 crore which is 82.13%, 78.18%, 80.46% and 77.71% of its total loans and advances as on such specific dates. As of 30 September 2023, the company had a network of 250 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Odisha, Maharashtra, and Telangana and the union territory of Puducherry.
The company belongs to the Indel Group, which was founded by Late Mr. Palliyil Janardhanan Nair. The Indel Group entered into the regulated financial services business at a small village in Palakkad, Kerala under a State Government Money lender license. Its Gold Loan customers are individuals primarily from rural and semi-urban areas. The company is one of the few gold loan companies which has launched a long-term 2-year gold loan scheme. The scheme accounted for 0.02% of the gold loan portfolio of the company for FY 2023.
Promoters of Indel Money – Indel Corporation Private Limited
Indel Money NCD January 2024 Details
| Subscription Dates | 30 Jan – 12 Feb 2024 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Face Value | INR 1,000 per NCD |
| Issue Price | INR 1,000 per NCD |
| Issue Size (Base) | INR 100 crores |
| Overall Issue Size (including oversubscription) | INR 200 crores |
| Minimum Lot Size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 366 Days 24 months 36 months 60 months 72 months |
| Credit Rating | CRISIL BBB +/Stable |
| Category Reservation | Category 1 (QIB): 10% Category 2 (NII): 40% Category 3 (Retail): 50% |
| Basis of Allotment | First Come First Serve |
| Listing On | BSE |
Indel Money NCD January 2024 – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 366 Days | Monthly | 9.00% | 9.38% | INR 1,000 |
| Series 2 | 366 Days | Cumulative | NA | 9.00% | INR 1,090.00 |
| Series 3 | 24 months | Monthly | 9.75% | 10.20% | INR 1,000 |
| Series 4 | 24 months | Cumulative | NA | 9.75% | INR 1,204.51 |
| Series 5 | 36 months | Monthly | 10.75% | 11.30% | INR 1,000 |
| Series 6 | 36 months | Cumulative | NA | 10.75% | INR 1,358.41 |
| Series 7 | 36 months | Monthly | 11.50% | 12.13% | INR 1,000 |
| Series 8 | 72 months | Cumulative | NA | 12.25% | INR 2,000.41 |
Indel Money Non-Convertible Debentures Lead Manager
VIVRO FINANCIAL SERVICES PRIVATE LIMITED
607/608 Marathon Icon,
Opp. Peninsula Corporate Park Off. Ganpatrao Kadam Marg,
Veer Santaji Lane, Lower Parel Mumbai 400 013, Maharashtra, India
Phone: +91 22 6666 8040
Email: [email protected]
Website: www.vivro.net
Indel Money Non Convertible Debentures Registrar
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone:Â + 91 810 811 4949Â
Email:Â [email protected]
Website:Â www.linkintime.co.in
Indel Money NCD Documents
Indel Money Contact Details
INDEL MONEY LIMITED
Indel House, Changampuzha Nagar,
South Kalamassery, Ernakulam 682 033, Kerala
Phone: +91 484 293 3988
Email:Â [email protected]
Website: www.indelmoney.com
Indel Money NCD January 2024 Subscription Status (no. of times)
| Date | QIB | NII | Retail | Total |
| 12 Feb 2024 | 0.00 | 0.87 | 1.10 | 0.90 |
| 9 Feb 2024 | 0.00 | 0.81 | 0.94 | 0.80 |
| 8 Feb 2024 | 0.00 | 0.77 | 0.87 | 0.74 |
| 7 Feb 2024 | 0.00 | 0.50 | 0.78 | 0.59 |
| 6 Feb 2024 | 0.00 | 0.40 | 0.70 | 0.51 |
| 5 Feb 2024 | 0.00 | 0.37 | 0.63 | 0.46 |
| 3 Feb 2024 | 0.00 | 0.35 | 0.56 | 0.41 |
| 2 Feb 2024 | 0.00 | 0.31 | 0.48 | 0.36 |
| 1 Feb 2024 | 0.00 | 0.28 | 0.41 | 0.32 |
| 31 Jan 2024 | 0.00 | 0.23 | 0.34 | 0.26 |
| 30 Jan 2024 | 0.00 | 0.19 | 0.27 | 0.21 |
Indel Money NCD January 2024 Allotment Status
Indel Money NCD January 2024 allotment status will be updated at the website of Link Intime India Private Limited website. Click on this link to get allotment status.
Indel Money NCD January 2024 FAQs
What is the face value and lot size of Indel Money NCD January 2024?
The NCDs will be issued at a face value of INR 1,000 each NCD and the minimum lot size is 10 NCDs.
What is the frequency of interest payment in Indel Money NCD January 2024?
The frequency of payment for Indel Money NCD is Monthly, & Cumulative.
What is the basis of allotment in Indel Money NCD January 2024 offer?
Indel Money NCDs will be allotted on a First Come First Serve Basis.
