Indel Money Limited has announced its sixth public issue of secured of face value of ₹1,000 each. The issue opens on October 13 and closes on October 28 (with an option of early closure in the case of early oversubscription).
The issue includes a base issue size for an amount of up to ₹150 crore with an option to retain oversubscription up to ₹150 crore, aggregating up to ₹300 crore.
The lead managers to the issue are InCred Capital Financial Services Limited and Trust Investment Advisors Private Limited.
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 (at least 75 per cent) and general corporate purposes (a maximum of up to 25 per cent).
Indel Money Limited has a total of ₹2,690 crore as on June 30. Gold loans constitute up to 91.82 per cent of the loan portfolio.