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Indel Money Limited’s public issue of Secured, Rated, Listed and Redeemable Non-Convertible Debentures (NCDs) witnessed strong investor participation, receiving subscriptions worth ₹1,759 crore, or 704% of the ₹250 crore base issue.
The issue, which opened on August 18, 2026, comprised a base issue of ₹250 crore and a Green Shoe Option of up to ₹250 crore. The entire ₹500 crore issue was fully subscribed within four hours of opening. Following the strong response, the company pre-closed the issue on August 20, ahead of its scheduled closing date.
The NCDs, carrying a face value of ₹1,000 each, offer an effective yield of up to 12.25% per annum and are proposed to be listed on BSE Limited. The issue has been rated ‘IND A-/Stable’ by India Ratings and Research Pvt. Ltd.
Mr Umesh Mohanan, Whole Time Director, Indel Money, said: “The strong response to our NCD issue demonstrates investor confidence in Indel Money and our growth strategy. The capital raised will further strengthen our ability to meet the evolving credit requirements of individuals and businesses, particularly across rural and semi-urban India.”
The net proceeds will be utilised towards onward lending, financing or refinancing existing debt, debt servicing and general corporate purposes, in accordance with applicable regulations.
As of June 30, 2026, Indel Money’s AUM stood at ₹4,376.51 crore and net worth at ₹659.03 crore. GNPA was 1.54%, NNPA 1.24%, while Tier I Capital Adequacy Ratio stood at 22.47%.
The company operates 397 branches across 12 states and four Union Territories.