Indel Money set to raise Rs 500 crore through a public NCD issue opening August 18, offering bond investors yields of up to 12.25% a year.

The gold loan lender’s non-convertible debenture issue runs through August 31, though the company has kept the option to close it early if the response is strong enough. Each NCD is priced at Rs 1,000.

The base offer is Rs 250 crore, and Indel Money has built in a green shoe option to take in another Rs 250 crore if demand outpaces the base, taking the total issue size to Rs 500 crore.

Investors need at least Rs 10,000 to get in, spread across the various series on offer, and Rs 1,000 multiples after that.

Tenures stretch from 400 days all the way to six years. Yields go up to 12.25% a year, and the exact number depends on which series an investor picks.

India Ratings has given the paper an ‘IND A-/Stable’ rating, and the bonds will list on the BSE once the issue wraps up.

So the money raised through this will mostly go into fresh lending and clearing existing debt, plus routine corporate costs. One thing it won’t cover: prepayment penalties on older borrowings.

Indel Money runs 397 branches across 12 states and four union territories, stretching from Kerala up to Haryana and Delhi.

The FY26 numbers give some context for why the company is raising more. Assets under management nearly doubled, from Rs 2,334.44 crore to Rs 4,103.90 crore.

Total income touched Rs 605.96 crore, and profit after tax came in at Rs 123.97 crore. Net worth stands at Rs 631.77 crore. Bad loans stayed low too, with gross NPAs at 1.65% and net NPAs at 1.30%.

Executive Director & CEO Umesh Mohanan pointed to past NCD issues going well and said he expects the same trust from investors this round.

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