<p><br><br>New Delhi: Indel Money, a non-banking financial company (NBFC) that deals in gold loans, plans to float an initial public offer (IPO) in FY 2026-27, the company’s CEO Umesh Mohanan said on Tuesday.<br><br>In the run-up to the IPO, the company has outlined aggressive expansion plans. It has launched eight new branches in Delhi NCR and targets to open eight more branches in the region by March.<br><br>At present Indel Money has over 250 branches, majority of them in Karnataka, Tamil Nadu and Kerala. “Our plan is to expand pan-India,” said Mohanan, adding the company has outlined plans to open branches in several states in North and North East.<br><br>To fund the growth demands the company will raise Rs 200 crore through public issue of non-convertible debentures (NCDs) at the BSE. This will be the fourth issue of NCDs by Indel Money. The issue will open for subscription on January 30 and close on February 12, with an option of early closure in case of over subscription. <br><br>Debentures are long-term financial instruments issued by a company for specified tenure with a promise to pay fixed interest to the investor. Non-convertible debentures cannot be converted into shares or equities. Indel Money’s NCD will have a face value of Rs 1000 each. The tenure will range from 366 days to 72 months. The annual interest on investment will be upto 12.25%. <br><br>“The money raised from NCDs will be used for onward lending and also for repayment of borrowings,” said Mohanan, who is also an executive whole time director of Indel Money.<br><br>The NCD includes a base issue size for up to Rs 100 crore with an option to retain over-subscription up to Rs 100 crore aggregating up to Rs 200 crore. The lead manager to the issue is Vivro Financial Services.<br><br>“We aim to continue to grow our loan portfolio by expanding our branch network by opening new branches. Increased revenue, profitability and visibility are the factors that drive the branch network. With this issue, we aim to expand our sources of funds,” he added. </p>
<p><br><br>New Delhi: Indel Money, a non-banking financial company (NBFC) that deals in gold loans, plans to float an initial public offer (IPO) in FY 2026-27, the company’s CEO Umesh Mohanan said on Tuesday.<br><br>In the run-up to the IPO, the company has outlined aggressive expansion plans. It has launched eight new branches in Delhi NCR and targets to open eight more branches in the region by March.<br><br>At present Indel Money has over 250 branches, majority of them in Karnataka, Tamil Nadu and Kerala. “Our plan is to expand pan-India,” said Mohanan, adding the company has outlined plans to open branches in several states in North and North East.<br><br>To fund the growth demands the company will raise Rs 200 crore through public issue of non-convertible debentures (NCDs) at the BSE. This will be the fourth issue of NCDs by Indel Money. The issue will open for subscription on January 30 and close on February 12, with an option of early closure in case of over subscription. <br><br>Debentures are long-term financial instruments issued by a company for specified tenure with a promise to pay fixed interest to the investor. Non-convertible debentures cannot be converted into shares or equities. Indel Money’s NCD will have a face value of Rs 1000 each. The tenure will range from 366 days to 72 months. The annual interest on investment will be upto 12.25%. <br><br>“The money raised from NCDs will be used for onward lending and also for repayment of borrowings,” said Mohanan, who is also an executive whole time director of Indel Money.<br><br>The NCD includes a base issue size for up to Rs 100 crore with an option to retain over-subscription up to Rs 100 crore aggregating up to Rs 200 crore. The lead manager to the issue is Vivro Financial Services.<br><br>“We aim to continue to grow our loan portfolio by expanding our branch network by opening new branches. Increased revenue, profitability and visibility are the factors that drive the branch network. With this issue, we aim to expand our sources of funds,” he added. </p>