INDEL MONEY LIMITED NCD IPO - Check issue date, Price and details | Bond IPO

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Open on

18-Aug-2026

Returns Upto*

12.25%

Min Investment

₹ 10,000

Credit Rating

A-/STABLE IND

Select Series

Series	Returns	Tenure	Payout	Coupon
Series VIII	12.25%	72 months	Cumulative
Series IX	12.12%	72 months	Monthly	11.5%
Series VII	11.56%	60 months	Monthly	11%
Series V	10.46%	36 months	Monthly	10%
Series VI	10%	36 months	Cumulative
Series III	9.91%	24 months	Monthly	9.5%
Series IV	9.5%	24 months	Cumulative
Series I	9.38%	11 months	Monthly	9%
Series II	9%	11 months	Cumulative

Experienced Management Team : The promoters, management and independent directors together bring 100+ years of experience in banking, financial services and regulation, supporting business stability.

Asset Quality : 93% of its portfolio in the gold loan segment wherein the asset quality is manageable due to the liquid nature of the underlying asset and upward trend in asset prices.

3. Capital Structure: Net worth strengthened significantly, rising to ₹632 crore as on March 31, 2026, from ₹320 crore as on March 31, 2025, reflecting improved capital strength and loss-absorption capacity.

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Company Financials

AUM

Net Worth

PAT

Cash & Cash Eq.

Important disclaimer

Ratio Analysis

1.3

Net NPA

Good

Benchmark: Lower than 3%

1.65

Gross NPA

Good

Benchmark: Lower than 5%

20.47

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

4.57

Debt to Equity Ratio

Good

Benchmark: Lower than 6 times

Important disclaimer

Compare with FD

Bank Deposit

6.80% *

Bond

12.25%

10 Lac Invested could earn ₹ 2,72,500 more in 5 years

About Issuer

INDEL MONEY LIMITED

Indel Money Limited (“Indel”), incorporated in 1986 as Payal Holdings Pvt Ltd,is a IND - company. It is a systemically important non-deposit-taking NBFC focused on gold loans.

It is promoted by Mr. Mohanan Gopalakrishnan and Mr. Umesh Mohanan, seasoned professionals with strong backgrounds in international banking and multinational operations.

Indel has a network of 286 branches serving over 10 lakh customers, with AUM growing to ~INR 4100 Cr as of March 2026 from ~INR 1,534 Cr as of March 2024, reflecting healthy portfolio growth.

Total Annual Revenue

606 Cr (FY - 2026)

Year of Inception

1986

Industry

NBFC Retail

Head Office

MUMBAI

Type of Issuer

Corporate

Current MD/CEO

Mr. Umesh Mohanan

Credit Rating / Outlook

A- STABLE

IND

Rating Rationale

Rating Date: 16-Jul-2026

Credit rating by different rating agencies indicates the bond issuer’s ability to repay its debt obligations. A bond can be rated by one or more SEBI registered credit rating agencies e.g. CRISIL, CARE, ICRA, IND, BWR, ACUITE, INFOMERICS.
Bonds/NCDs with A credit rating are considered to have an adequate degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry low credit risk.
Stable Outlook suggests that the rating is unlikely to change significantly in the near to medium term, indicating a stable credit profile of the issuer.

Other Important Details & Disclosures

Issuer Name

INDEL MONEY LIMITED

Face Value

₹ 1,000

Mode of Issue

Public Placement

Trustee Details

BEACON TRUSTEESHIP LIMITED

5W, 5th Floor, The Metropolitan, E Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Registrar Details

MUFG INTIME INDIA PRIVATE LIMITED (Formerly, Link Intime India Private Limited)

C-101, Embassy 247, Lal Bahadur Shastri Marg, Vikhroli (West) Mumbai, Maharashtra ? 400083, India

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Taxation

10%

TDS on Interest Income*

*Given TDS is indicative and fully claimable while filing ITR. The interest income from this bond will be taxable and will appear in the additional source of income in your ITR. Please consult your tax advisor for precise taxation details
As a listed bond, it is subject to capital gains tax based on the holding period. A holding period of less than 1 year qualifies as short-term, while more than 1 year qualifies as long-term.
You can submit your Form 121 to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: MUFG INTIME INDIA PRIVATE LIMITED (Formerly, Link Intime India Private Limited) C-101, Embassy 247, Lal Bahadur Shastri Marg, Vikhroli (West) Mumbai, Maharashtra ? 400083, India