Indel Money planning to raise up to ₹500 cr via public issue of NCDs
Kerala-based Indel Money is set to raise up to ₹500 crore through a public issue of non-convertible debentures (NCDs) with coupon rates ranging from 9% to 11.50% per annum, depending on the tenor which varies between 400 days and 72 months. The effective yield for the NCDs ranges from a minimum of 9% for a 400-day NCD to 12.25% for a 72-month NCD under the monthly/cumulative option. The minimum application size is ₹10,000 across all Series of NCDs, payable in multiples of ₹1,000.
The NCD issue, which includes a base issue of ₹250 crore with an option to retain oversubscription up to ₹250 crore, is scheduled to open on August 18, 2026, and close on August 31, 2026. Umesh Mohanan, Whole Time Director of Indel Money, stated that the fund raise will strengthen the company's capital position and support its ability to meet evolving credit demand, pursue long-term growth objectives, and comply with regulatory requirements.
The NCD issue is open for comments in English and in full sentences, adhering to community guidelines.
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