Indel Money plans to raise up to Rs 150 cr via bonds

Gold loan-focussed non-banking financial company Indel Money on Thursday said it is looking to raise up to Rs 150 crore through issuance of secured and unsecured non-convertible debentures (NCDs).

The issue includes a base issue size of up to Rs 75 crore, with an option to retain oversubscription of up to Rs 75 crore, aggregating up to Rs 150 crore, a release said.

See Zee Business Live TV Streaming Below:

The tenors for secured NCDs range from 366 days to 54 months and from 61 to 71 months for unsecured NCDs, it said.

The bonds are offering coupon rates of up to 12 per cent per annum.

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

The issue opened for subscription on September 23 and will close on October 18, 2021.