INDEL MONEY LIMITED

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Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

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Unveiling the Golden Experience, Crafted for you!

25K+ already in the waitlist

Join Now

Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

Invest Now

Unveiling the Golden Experience, Crafted for you!

25K+ already in the waitlist

Join Now

Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

Invest Now

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Returns (YTM)

11.8%

Min. Investment

₹ 99,268.24

Remaining Tenure

2Y 9M 8Days

Payment Terms

Monthly

Highlights

Credit Rating

IVR A-/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Experiences 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.

Capital Structure: Net worth strengthened significantly, rising to ₹319.5 crore as on March 31, 2025, from ₹211 crore as on March 31, 2024, reflecting improved capital strength and loss-absorption capacity.

Company Financials

AUM

Net Worth

PAT

Cash & Cash Eq.

Important disclaimer

Ratio Analysis

1.35

Net NPA

Good

Benchmark: Lower than 3%

1.88

Gross NPA

Good

Benchmark: Lower than 5%

20.52

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

Important disclaimer

About Issuer

Indel Money Limited (“Indel”), incorporated in 1986 as Payal Holdings Pvt Ltd,is a CRISIL BBB+ rated 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 ?2,334 crore as of March 2025 from ?1,534 crore as of March 2024, reflecting healthy portfolio growth.

Total Annual Revenue

Rs 330.53 Cr (FY - 2025)

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

IVR

Rating Rationale

Rating Date: 21-Jan-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

Security Name

11% INDEL MONEY LIMITED Secured Rated Listed NCD Maturity 23-Jan-2029

ISIN

Copy

INE0BUS07CJ2

Face Value

₹ 1,00,000

Issued FV

₹ 1,00,000

Coupon Rate

11%

Coupon Type

FIXED

Payment Terms

Monthly

Maturity Date

23-Jan-2029

Clean Price

₹ 99.48

Dirty Price

₹ 99.27

Current Yield

11.0576%

Yield to Maturity

11.8039%

Mode of Issue

Private Placement

Date of Issue

23-Jan-2026

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Catalyst Trusteeship Limited

901,9th Floor, Tower- B, Peninsula Business Park,Senapati Bapat Marg, Lower Parel (W), Mumbai - 400013

Registrar Details

MUFG Intime India Private Limited (formerly known as Link Intime Pvt Ltd.)

C 101, 247 Park, LBS Marg, Vikhroli West,Mumbai 400083

Looking For More Information ?

Download Prospectus

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 15G/15H to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: MUFG Intime India Private Limited (formerly known as Link Intime Pvt Ltd.) C 101, 247 Park, LBS Marg, Vikhroli West,Mumbai 400083

Unit

Investment Amount

₹ 99,268.24

Total Returns

₹ 31,019.43

Total Receivable

₹ 1,30,287.67

Cashflow Timeline

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FAQs about Indel Money bonds

How to buy this Indel Money bond online?

You can invest in bonds online in under 5 minutes. To buy Indel Money bond online follow the steps below:

Login/signup at GoldenPi
Upload your documents online to complete the KYC
Pay online via payment gateway and receive bond units in your demat account

What is the yield of this Indel Money bond?

11.8039% is the current yield of this Indel Money bond. A bond’s current yield indicates the annual return based on its current market price and annual coupon payment.
In addition to current yield, the yield to maturity (YTM) of this Indel Money bond is 11.8039%, which indicates the total expected return if the bond is held till the maturity date. It is calculated using the XIRR method considering current price, face value, coupon payments, and time to maturity.

Is it safe to invest in bonds?

Investing in bonds is relatively a safer option but it depends on factors like:

The creditworthiness of the issuer indicated by the credit rating
The debt quality of the bond indicated by its seniority and security
Your investment goals and risk appetite

If you are an existing bond investor and want to sell your bond holdings before maturity, you can do so through the secondary market. This can be done either through exchanges such as BSE or NSE, or you can also request a quote from your relationship manager at GoldenPi.

How to redeem this Indel Money bond?

To redeem this Indel Money bond, bond, kindly first check its redemption value and redemption schedule. This can be found by downloading the cash flow from the “Calculate Your Returns” section of this page or by contacting the support team at GoldenPi.
Once you buy this bond, the units would be reflected in your demat account.
Upon maturity, the bond units held in your demat account will be automatically debited on the maturity date, and if the maturity date falls on a bank holiday, the redemption amount will be paid out on the next working day.
The funds will be credited to the bank account linked to your demat account. The process of redeeming this Indel Money bond is generally simple and straightforward. Contact our support team for more information.

Is this Indel Money bond tax-free?

No, this Indel Money bond is not tax free. The interest income received from these bonds will be treated as “income from other sources” in the ITR and the tax will be calculated as per your income tax slab.

To know more about taxation in detail please read this article: https://goldenpi.com/blogessentials/bond-market/taxation-on-gains-from-bond-investments/

Can I sell this Indel Money bond before the maturity date?

Yes, it is possible to sell this Indel Money bond before maturity. However, as the sale process happens in the secondary market, the price can be determined by a variety of factors, including interest rates, credit ratings, company performance, and market demand.

To know more about the sale process, contact us at https://goldenpi.com/contact-us

Need Help?

Talk to our Support Team for free. We will help you through your investment journey.

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Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities, municipal debt securities/securitised debt instruments are subject to credit risks, market risks and default risks including delay and/or default in payment. Read all the offer related documents carefully.
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Cashflow Timeline

Timeline

Total Receivable*

Net Receivable**

2026

₹ 7,353.42

₹ 6,618.08

23 May	Interest ₹ 904.11	Interest ₹ 813.7
23 Jun	Interest ₹ 934.25	Interest ₹ 840.82
23 Jul	Interest ₹ 904.11	Interest ₹ 813.7
23 Aug	Interest ₹ 934.25	Interest ₹ 840.82
23 Sep	Interest ₹ 934.25	Interest ₹ 840.82
23 Oct	Interest ₹ 904.11	Interest ₹ 813.7
23 Nov	Interest ₹ 934.25	Interest ₹ 840.82
23 Dec	Interest ₹ 904.11	Interest ₹ 813.7

2027

₹ 11,000

₹ 9,900

2028

₹ 11,000

₹ 9,900

2029

₹ 1,00,934.25

₹ 1,00,840.82

* The interest amount is paid as per total invested face value (₹ 100000) and annual coupon rate of 11%.

** The net interest receivable is after 10% TDS for Indian Residents. However for NRI 30% TDS is deducted. The deducted TDS can be claimed while filing ITR.

Highlights

Company Financials

Ratio Analysis

About Issuer