Indel Money’s 500 Crore NCD Issue (250 Cr Base issue + 250 Cr Greenshoe) Oversubscribed by 704%, ₹1,759 Crore in Subscriptions

Chandigarh, September 1st , 2026: Indel Money Limited’s public issue of Secured, Rated, Listed and Redeemable Non-Convertible Debentures (NCDs) drew strong response from investors, with the entire issue of up to Rs 500 crore,

including the Rs 250 crore Green Shoe Option, fully subscribed within four hours of opening on August 18, 2026. The issue, with a base size of Rs 250 crore and an option to retain oversubscription of up to Rs 250 crore, was pre-closed on August 20, 2026, ahead of its scheduled closing date. The company received bids worth Rs 1,759 crore, equivalent to 704% of the base issue size.

The NCDs, with a face value of Rs 1,000 each, carry an effective yield of up to 12.25% per annum and are proposed to be listed on BSE Limited. The NCDs have been rated ‘IND A-/Stable’ by India Ratings and Research Pvt. Ltd.

Mr Umesh Mohanan, Whole Time Director, Indel Money, said: “The overwhelming response to the issue reflects the confidence investors have placed in Indel Money and our growth strategy. The fact that the entire Rs 500 crore issue was subscribed within four hours, followed by total subscription of Rs 1,759 crore, is particularly encouraging.

As we expand our lending franchise, this strong investor response enhances our ability to access diversified sources of capital to serve the evolving credit needs of individuals and businesses mainly across rural parts of India. The proceeds from the Issue will augment Indel’s capital position and support our onward lending activities, refinancing and debt servicing requirements, while enabling us to pursue our long-term growth objectives.”

The Net Proceeds of the Issue will be utilised for onward lending, financing or refinancing of existing debt and/or debt servicing, including payment of interest and/or repayment or prepayment of interest and principal of existing borrowings of the Company, and for general corporate purposes, in accordance with applicable regulations.

During FY26, Indel Money’s Assets Under Management (AUM) stood at ₹4,103.90 crore. Indel Money reported total income of ₹605.96 crore, net worth of ₹631.77 and profit after tax of ₹123.97 crore. The Company maintained a strong focus on asset quality and capital strength, with GNPA at 1.65% and NNPA at 1.29% as of March 31, 2026. and a Tier I Capital Adequacy Ratio of 20.47%.

As of June 30, 2026, Indel Money’s Assets Under Management (AUM) stood at ₹4,376.51 crore, net worth of ₹659.03 Cr. The Company maintained a focus on asset quality and capital strength, with Gross Non-Performing Assets (GNPA) at 1.54%, Net Non-Performing Assets (NNPA) at 1.24%, and a Tier I Capital Adequacy Ratio of 22.47%. 

Indel Money had a network of branches spread across Haryana, Rajasthan, Uttar Pradesh, Madhya Pradesh, Odisha, Maharashtra, Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana, and Gujarat, as well as the Union Territories of Puducherry, Chandigarh, Delhi, and Andaman & Nicobar Islands.

Indel Money also operates its foreign exchange business under the brand name ‘Indel Remit’. The Company holds an RBI Authorised Dealer Category-II (AD-II) licence, enabling it to undertake permitted foreign exchange transactions, including trade and non-trade related services. Indel Remit operates through dedicated forex branches and an extensive network of business associates, offering services including currency exchange, travel money cards, and outward remittances.

Notes to the Editor: Indel Money Limited

Indel Money Limited is an RBI-registered NBFC-Middle Layer (NBFC-ML) focused primarily on gold loans against the pledge of household gold jewellery, which constitute 94.08% of its portfolio. The Company also offers Loans Against Property, business loans, personal loans, and consumer durable loans.

During FY26, Indel Money reported total income of ₹605.96 crore and profit after tax of ₹123.97 crore, while its net worth stood at ₹631.77 crore. The Company maintained a strong focus on asset quality and capital strength, with GNPA at 1.65% and NNPA at 1.29% as of March 31, 2026.

As of June 30, 2026, the Company’s AUM stood at ₹4,376.51 crore, while net worth increased to ₹659.03 crore in Q1 FY27. GNPA improved to 1.54% and NNPA to 1.24%, with the Tier I Capital Adequacy Ratio strengthening from 20.47% as of March 31, 2026, to 22.47% as of June 30, 2026.

Indel Money had 397 branches across 12 states and 4 Union Territories. Its gold loan customers include business owners, merchants, traders, farmers, salaried individuals, and families, primarily from rural and semi-urban areas. The Company remains focused on expanding its branch network by adding 111 branches during FY27 and extending its presence to two additional states.

Indel Money is part of the Indel Corporation, founded by Late Mr. Palliyil Janardhanan Nair. The Indel Group entered the regulated financial services business in a small village in Palakkad, Kerala, under a State Government money lender’s licence. Over the years, the Group has diversified its presence across financial services, insurance, automotive, hospitality, plantations, infrastructure, communication, media, and entertainment.