Indel Moneyon announces 3rd tranche of NCDs to raise up to Rs 100 cr

Gold loan non-banking finance company Indel Money has announced its third tranche of public issue of Secured NCDs with the face value of Rs 1,000 each. The issue opens on June 6 and closes on June 19, with an option of early closure if oversubscribed. Proceeds from the issue will be used for onward lending and financing. The company has grown its assets under management by 72% to Rs 1,154 crore in FY23 and is targeting Rs 2,100 crore AUM in the current fiscal. Indel Money operates across eight states, with plans to expand to 15 states by FY25.

Indel Moneyon announces 3rd tranche of NCDs to raise up to Rs 100 cr
Gold loan non-banking finance company Indel Money has announced its third tranche of public issue of Secured NCDs with the face value of Rs 1,000 each. The issue opens on June 6 and closes on June 19, with an option of early closure if oversubscribed. Proceeds from the issue will be used for onward lending and financing. The company has grown its assets under management by 72% to Rs 1,154 crore in FY23 and is targeting Rs 2,100 crore AUM in the current fiscal. Indel Money operates across eight states, with plans to expand to 15 states by FY25.