3 weeks ago
Kerala's Indel Money to raise ₹500 crore via NCDs
Indel Money is a company in Kerala that gives loans to people in exchange for their gold, so it is called a gold loan company.
The company needs more money so it can lend to more people.
It is inviting regular people to lend money to the company in exchange for special promises called non-convertible debentures, or NCDs.
Each promise has a face value of ₹1,000.
In return, the company promises to pay interest of between 9% and 11.50% every year.
How much interest you get depends on how long you keep your money with the company, from 400 days up to 72 months.
The smallest amount someone can invest is ₹10,000.
The sale opens on August 18, 2026, and closes on August 31, 2026.
The company hopes to collect up to ₹500 crore to grow its business and lend more.
Kerala-based gold loan NBFC Indel Money plans to raise up to ₹500 crore via a public issue of non-convertible debentures (NCDs).
The NCDs have a face value of ₹1,000 each, with coupon rates ranging from 9% to 11.50% per annum for tenors of 400 days to 72 months.
The issue comprises a base of ₹250 crore with an option to retain oversubscription of up to ₹250 crore.
The minimum application size is ₹10,000 in multiples of ₹1,000, and the issue runs from August 18 to August 31, 2026, with an early-closure option.
Net proceeds will be used for onward lending, refinancing and debt servicing, and general corporate purposes; Umesh Mohanan said the raise will strengthen the company's capital position amid healthy credit demand.
- Who
- Indel Money, a Kerala-based gold loan NBFC and non-deposit taking non-banking finance company, with Whole Time Director Umesh Mohanan as spokesperson.
- What
- Planning to raise up to ₹500 crore through a public issue of non-convertible debentures (NCDs).
- Where
- Kerala, India, the company's home state; the announcement was made in New Delhi.
- When
- Announced on August 12, 2026; the issue opens on August 18, 2026, and closes on August 31, 2026, with an early-closure option.
- Why
- To strengthen its capital position amid healthy credit demand, support evolving credit needs and long-term growth, comply with regulatory requirements, and fund onward lending and refinancing of existing debt.
Key facts
- Company
- Indel Money
- Headquarters
- Kerala, India
- Instrument
- Non-convertible debentures (NCDs), face value ₹1,000 each
- Issue size
- Up to ₹500 crore (₹250 crore base + ₹250 crore oversubscription option)
- Coupon rates
- 9% to 11.50% per annum
- Tenor
- 400 days to 72 months
- Minimum application
- ₹10,000, in multiples of ₹1,000
- Issue dates
- August 18 to August 31, 2026 (early closure possible)
Quotes
Umesh Mohanan
Whole Time Director of Indel Money
“With the Indian economy continuing to demonstrate resilience and credit demand remaining healthy, organized lenders, including gold loan NBFCs, have an important role to play in meeting the financing requirements of individuals and businesses. This fund raise will further strengthen our capital position and support our ability to meet evolving credit demand, pursue our long-term growth objectives and comply with regulatory requirements.”
thehindubusinessline.com
Sources
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