Indel Money Mobilises Rs 500 Cr From NCD

New Delhi: Indel Money, a non-deposit-taking non-banking finance company, has raised Rs 500 crore through a public issue of non-convertible debentures (NCDs) to fund its business growth.

The issue, with a base size of Rs 250 crore and an option to retain oversubscription of up to Rs 250 crore, was pre-closed on August 20, 2026, ahead of its scheduled closing date, the gold loan company said in a statement.

The company received bids worth Rs 1,759 crore, equivalent to 704 per cent of the base issue size, it said.

The net proceeds of the issue will be utilised for onward lending, financing or refinancing of existing debt and/or debt servicing, including payment of interest and/or repayment or prepayment of interest and principal of existing borrowings of the company, and for general corporate purposes, it said.

The fact that the entire Rs 500 crore issue was subscribed within four hours, followed by total subscription of Rs 1,759 crore, is particularly encouraging, Indel Money whole-time director Umesh Mohanan said.

“The proceeds from the issue will augment Indel’s capital position and support our onward lending activities, refinancing and debt servicing requirements, while enabling us to pursue our long-term growth objectives,” he added.

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