Indel Money’s Public Issue of Secured, Redeemable,*

Non-Convertible Debentures (NCDs) Got Oversubscribed by 315%*

• Gold-loan NBFC received bids worth ₹472.79 crore

• Base Issue was for an amount of ₹150 crore with an option to retain over-subscription of up to ₹150 crore, aggregating up to ₹300 crore

• NCDs to be listed on the BSE on or after October 31

*Mumbai, November 5th, 2025* : Indel Money Limited, a non-deposit taking non-banking finance company (“NBFC”) in the gold loan sector, announced that its Sixth Public Issue of Secured, Redeemable, Non-Convertible Debentures (“NCDs”) of face value of ₹1,000/- each, aggregating to ₹300 crore, has been oversubscribed by 315%.

The NCD Issue, which started on October 13, pre-closed on October 24 and the company received bids worth ₹472.79 crore. The Issue was scheduled to close on October 28.

The NCDs, with an effective yield of up to 12.25% per annum, are likely to be listed on the BSE on or after October 31, 2025. They were rated ‘IVR A-/Stable’ by Crisil Ratings and the Lead Manager to the Issue was Vivro Financial Services.

Mr. Umesh Mohanan, Executive Director and CEO of Indel Money, said: “We are thankful to our investors for showing their trust and confidence in our company by oversubscribing the NCD issue by 315%, which resulted in the pre-closure in just 6 bidding days. The fact that the Issue received an overwhelming response from the investors in a range-bound market is making our feat even more significant. Certainly, it is an endorsement to our business model, corporate governance practices, and future strategies, which we need to sharpen and strengthen in the near term.”

The funds raised through this issue will be used for the purpose of onward lending, financing, and for repayment/ prepayment of principal and interest on borrowings of the Company and general corporate purposes.

Indel Money Limited has a total Assets Under Management (AUM) of ₹2,750 crore as on Sept 30, 2025. Gold Loans constitute up to 91.82% of the loan portfolio. As on September 30, 2025, the NBFC has a network of 366 branches spread across the states of Haryana, Uttar Pradesh, Delhi, Madhya Pradesh, Odisha, Maharashtra, Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Andaman and Nicobar, Gujarat, and the Union territory of Puducherry. 

Indel Money has a foreign exchange vertical, ‘Indel Remit’, which is operating with RBI’s Authorized Dealer Category-II licence (AD-2 licence). It allows Indel Remit to conduct foreign exchange transactions, primarily non-trade current account transactions and services similar to Full-Fledged Money Changers. Headquartered in Mumbai with a corporate office in Kochi, Indel Remit offers a host of services like currency exchange, travel money cards, and outward remittances. Indel Remit has 24 exclusive forex branches, and over 2,130 business associate touch points for forex, domestic remittances and Indo-Nepal remittance. It also has major tie-ups with 27 government bodies and federations, and 465 large corporates.