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Indel Money Limited has successfully raised ₹500 crore through its public issue of Secured, Rated, Listed and Redeemable Non-Convertible Debentures (NCDs), attracting investor bids worth ₹1,759 crore—704% of the ₹250 crore base issue.
The NCD 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 full ₹500 crore issue was subscribed within four hours of opening, leading the company to pre-close the issue on August 20, ahead of schedule.
The NCDs, with 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 carries an ‘IND A-/Stable’ rating from India Ratings and Research Pvt. Ltd.
Mr Umesh Mohanan, Whole Time Director, Indel Money, said the strong subscription reflects growing investor confidence in the company and its growth strategy. He added that the funds would support the company in addressing the evolving financing needs of individuals and businesses, especially in rural and semi-urban India.
The net proceeds will be utilised for onward lending, financing or refinancing of existing debt, debt servicing and general corporate purposes, subject to applicable regulations.
As of June 30, 2026, Indel Money had an AUM of ₹4,376.51 crore and a net worth of ₹659.03 crore. Its GNPA stood at 1.54%, NNPA at 1.24%, and Tier I Capital Adequacy Ratio at 22.47%.
The company has a network of 397 branches spread across 12 states and four Union Territories.