Hotline: 1800 102 2007
Hotline: 1800 102 2007
Aug, 23 2021

Indel Money to raise Rs.800-1000 crore through debt and equity

Indel Money, a south India-based non-banking finance company (NBFC), will raise Rs.800-1000 crore through a combination of debt and equity.

By Features Writer
Indel Money to raise Rs.800-1000 crore through debt and equity

The company will raise debt through public issuance of non-convertible debentures (NCDs) of Rs.500 crore in tranches. It will also raise Rs.150-200 crore by securitising its loan book through the issuance of various debt instruments like market-linked debentures, pass-through certificates (PTCs) and Direct assignments. Rs. 100-150 crore by means of credit from various institutions including PSU Banks, NBFCs and Other Financial institutions.

The NCDs have been rated CRISIL BBB/Stable and the first tranche of Rs.150 crore will hit the market in September this year.

To raise equity, Indel Money is in talks with a number of PEs to divest up to 15 per cent. The funds will be utilised for both lending and expansion activities.

The gold loan NBFC expects 55% growth in AUM in FY21-22 over FY20-21 banking on burgeoning demand. The gold loan business has increased by 52% year-on-year in FY20-21 to Rs 513 crore.

Indel Money presently has 191 physical branches across Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana and has plans to take the branch tally to 400 by FY23-24. It has plans to open 50 branches in Odisha and Maharashtra in Q4 FY21-22 and 45 branches in Gujarat and West Bengal in Q1 FY22-23.

Mr. Umesh Mohanan, Executive Director and CEO, Indel Money said, "Because of the prevailing economic scenario and easy eligibility criteria, the gold loan business is witnessing robust demand and disbursal growth. Raising debt and equity will help the company meet the growing demand and funding requirements to chart out a faster growth trajectory by expanding into new geographies. The funding will build a strong foundation for stable growth for us."

About Indel Money:

Indel Money is the flagship financial institution of Indel Corporation, which is a dynamic and unique holding business enterprise with a total paid up capital of Rs. 200+ Cr and a total turnover crossing Rs.1,000 Cr. They are headquartered in Mumbai with a corporate office in Kochi. This investment corporation mainly focuses on strategic investments in diversified sectors. Their key strategy is a diversified investment portfolio which includes, Financial Services, Automobile, Hospitality, Infrastructure Development, Media, Communication, and Entertainment. 

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Healthcare Products
    About Us: Onelife Live It Right was incepted and successfully launched..
    Locations looking for expansion Haryana
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Quick Service Restaurants
    About Us:  Chawla Chicken (Chawla’s2) is one of the biggest North..
    Locations looking for expansion Punjab
    Establishment year 1960
    Franchising Launch Date 1991
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ludhiana Punjab
  • Tea And Coffee Chain
    Beontea is a revolubon, Tradibonal tea, automated process and consistent tase...
    Locations looking for expansion Uttar Pardesh
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 050
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Uttar Pardesh
  • Career Counselling & Brain Programming
    About Us: India’s first Online Career Profiling Internationally Patented Test developed..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 149
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Thane Maharashtra
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities