Indel Money's Ambitious Rs 150 Crore Expansion via Debentures

Indel Money plans to raise Rs 150 crore through non-convertible debentures to finance growth. Open from October 21 to November 4, the funds will be used for inter-lending, debt repayment, and expanding rural and semi-urban market presence. Gold loans make up 91.82% of their portfolio.

Indel Money, a gold loan financier, announced its plan to raise up to Rs 150 crore through non-convertible debentures to support business growth efforts.

The issue, available from October 21 to November 4, could see an early closure in case of oversubscription, the company revealed in a statement.

Funds from this initiative will go towards onward lending, financing, repaying existing debts, and general corporate purposes, with expansion into rural and semi-urban markets as a key objective. Currently, gold loans comprise 91.82% of its portfolio across 324 branches.

(With inputs from agencies.)