12.25% Indel Money NCD January 2024

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Last updated on February 13, 2024

NCD Subscription Allotment Status
Indel Money NCD January 2024

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 Dates30 Jan – 12 Feb 2024
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Face ValueINR 1,000 per NCD
Issue PriceINR 1,000 per NCD
Issue Size (Base)INR 100 crores
Overall Issue Size (including oversubscription)INR 200 crores
Minimum Lot Size10 NCDs
Market Lot1 NCD
Tenor366 Days
24 months
36 months
60 months
72 months
Credit RatingCRISIL BBB +/Stable
Category ReservationCategory 1 (QIB): 10%
Category 2 (NII): 40%
Category 3 (Retail): 50%
Basis of AllotmentFirst Come First Serve
Listing OnBSE

Indel Money NCD January 2024 – Options and Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 1366 DaysMonthly9.00%9.38%INR 1,000
Series 2366 DaysCumulativeNA9.00%INR 1,090.00
Series 324 monthsMonthly9.75%10.20%INR 1,000
Series 424 monthsCumulativeNA9.75%INR 1,204.51
Series 536 monthsMonthly10.75%11.30%INR 1,000
Series 636 monthsCumulativeNA10.75%INR 1,358.41
Series 736 monthsMonthly11.50%12.13%INR 1,000
Series 872 monthsCumulativeNA12.25%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: + 91 810 811 4949 
Email: [email protected]
Website: 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[email protected]
Website: www.indelmoney.com


Indel Money NCD January 2024 Subscription Status (no. of times)

DateQIBNIIRetailTotal
12 Feb 20240.000.871.100.90
9 Feb 20240.000.810.940.80
8 Feb 20240.000.770.870.74
7 Feb 20240.000.500.780.59
6 Feb 20240.000.400.700.51
5 Feb 20240.000.370.630.46
3 Feb 20240.000.350.560.41
2 Feb 20240.000.310.480.36
1 Feb 20240.000.280.410.32
31 Jan 20240.000.230.340.26
30 Jan 20240.000.190.270.21

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.

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