Now Reading: Indel Money to raise Rs 500 crore via NCD issue on August 18
-
01
Indel Money to raise Rs 500 crore via NCD issue on August 18
Kerala-based gold loan NBFC Indel Money plans to raise up to Rs 500 crore through a public issue of non-convertible debentures (NCDs). The NCDs offer coupon rates between 9% and 11.50% per…
The Story in Brief
Kerala-based gold loan NBFC Indel Money plans to raise up to Rs 500 crore through a public issue of non-convertible debentures (NCDs). The NCDs offer coupon rates between 9% and 11.50% per annum, with tenors from 400 days to 72 months. The minimum application is Rs 10,000, in multiples of Rs 1,000. The issue opens on August 18, 2026, and closes on August 31, 2026. It comprises a base issue of Rs 250 crore, with an option to retain oversubscription of up to Rs 250 crore.
The company said funds will strengthen its capital position and support credit demand. Umesh Mohanan, Whole Time Director, cited India's resilient economy and the role of organised lenders. Investors can choose from cumulative or monthly payout options.
The Indian Opinion
Some may call this a routine NCD issue, but at 11.50% coupon for 72 months, Indel Money is testing retail appetite for high-yield gold-loan paper. The real question is how much of this debt will be absorbed by ordinary investors wary of NBFC defaults. Watch the subscription numbers on day one, oversubscription would signal faith in gold-backed lending; tepid response would show lingering risk aversion.
Source: thehindubusinessline.com
This story was synthesised by AI from the source linked above.
