High Yield | BBB+/Stable Rated | Minimum Investment: 10k Only
Bond overview
Indel Money Limited is issuing the Non-Convertible Debentures. These NCDs are BBB+/Stable rated by CRISIL. The NCDs are being issued in seven series: coupon ranges from 9% to 11.5% p.a. and different tenures of 366 days, 24 months, 36 months, 60 months and 72 months . The NCDs are secured and redeemable in nature.
Coupon rates and effective yield for each of the series
Allocation Ratio
The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI. Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for Indel Money Limited NCD-IPO.
Investment Process for Indel Money Limited NCD IPO
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If the investment amount is less than & up to 10 lakhs, retail investors can apply for an IPO online.
If the investment amount is more than 10 Lakhs.
Financial Overview
Snapshot stating the Revenue, Expenses, Net Worth and PAT (In crores)
Cash flow for last few years (In crores)
Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.
- *Cash flow from operating activities reflects the amount a company generates through its product of services.
- **Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.
- ***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects the net flows of cash that are used to fund the company.
Issue analysis
Pros
- These are senior secured securities.
- The issuer is offering high coupon rates, when compared with FD rates.
Cons
- Earnings are lower than that of large gold loan financiers.
To get better returns than Bank FDs, invest in NCD-IPOs online.
About Indel Money Limited
Incorporated in 1986 as Payal Holdings Pvt Ltd, Indel Money is a non-deposit-taking non-bank financial institution. It was purchased by the current promoters in July 2012, and in January 2013, it was given its present name. Indel Money mostly offers loans secured by gold jewellery. Additionally, it functions in the areas of traders’ loans, business loans, loans secured by property, auto loans, and money transfers. In the states of Kerala, Tamil Nadu, Karnataka, Andra Pradesh, Telangana, Odisha, Maharashtra, and the Union Territory of Puducherry, Indel Money operates 242 branches.
Strengths
- The significant experience of the promoters and senior management team, along with the inclusion of independent directors, should continue to assist the firm.
- For the extent of operations planned now and in the future, capitalization should remain sufficient. As of March 31, 2023, net worth climbed from Rs 104.9 crore to Rs 163.1 crore, while adjusted gearing decreased from 6.9 times to 6.3 times.
- Good asset quality in the gold loan segment.
Weakness
- As of March 31, 2023, the company had 251 branches. Tamil Nadu (37.4%) had the most operations, followed by Karnataka (24.2%), Andhra Pradesh and Telangana (16.9%), Odisha (14.1%), Kerala (5.4%), and Maharashtra (2%).
- Average Earnings Profile
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Source- Prospectus January 16, 2024
Disclaimer – The information is published as on date 16/01/2024 based on information available on Prospectus January 16, 2024. The information may be subject to change in case of change in terms of prospectus or any other reason as the case maybe. Contents which are exclusively for educational information/knowledge sharing on capital market concepts and has no influence the investment/sale decisions of any investors
