Public NCD issue
Indel Money Limited
An RBI-registered NBFC in the middle layer, lending mainly against gold and, to a smaller degree, against property and to businesses. Part of the Indel Group and established in 1986, it operates across 12 states and 4 union territories with a focus on rural and semi-urban customers. Gross assets under management were ₹4,104 crore as at 31 March 2026, of which gold loans were 94%, with gross non-performing assets at 1.65% and a capital adequacy ratio of 20.47%.
- Rating
- A-, Stable
- Series
- 9, 400 days to 72 months
- Minimum
- ₹10,000
- Issue size
- up to ₹500.00 Cr
The specific terms of each instrument
9 series, and the only real choice is when you want the money
Every series is the same loan to the same company at the same minimum. They differ in how long you lend for and in when the interest reaches you.
Interest paid monthly
Interest reaches your bank account every month and your ₹1,000 comes back at the end. Income now.
| Series | Tenor | Coupon | Effective yield | Returned at the end |
|---|---|---|---|---|
| I | 400 days | 9.00% | 9.38% | ₹1,000 |
| IIIdefault | 24 months | 9.50% | 9.91% | ₹1,000 |
| V | 36 months | 10.00% | 10.46% | ₹1,000 |
| VII | 60 months | 11.00% | 11.56% | ₹1,000 |
| IX | 72 months | 11.50% | 12.12% | ₹1,000 |
Cumulative, everything at the end
Nothing is paid until maturity, then one larger amount that includes all the interest. A bigger sum later, not a better deal.
| Series | Tenor | Coupon | Effective yield | Paid at the end, per ₹1,000 |
|---|---|---|---|---|
| II | 400 days | Nil, paid at the end | 9.00% | ₹1,099.05 |
| IV | 24 months | Nil, paid at the end | 9.50% | ₹1,199.35 |
| VI | 36 months | Nil, paid at the end | 10.00% | ₹1,331.40 |
| VIII | 60 months | Nil, paid at the end | 12.25% | ₹2,001.70 |
The last column is not comparable between these tables. A monthly series returns your ₹1,000 and has paid you interest along the way; a cumulative series returns a larger figure because that same interest is inside it. A bigger number at the end is not a bigger return, it is the same loan settled at a different time.
The issue itself
- Instrument
- Secured, rated, listed, redeemable, non-convertible debentures
- Rated
- A-India
- Face value per NCD
- ₹1,000
- Minimum application
- ₹10,000, being 10 NCDs
- Base issue size
- ₹250.00 Cr
- With green shoe, up to
- ₹500.00 Cr
- Listing
- BSE
- Registrar
- MUFG Intime India Private Limited
- Allotment
- First come, first served
Who the issue is split between
10%
Institutional
30%
Non-institutional
30%
High net worth individuals
30%
Retail individual investors
Retail applications compete only within the retail portion, not against institutional money, which is why a large issue can still fill quickly in one category.
Where these figures come from
Every number on this page is transcribed from Motilal Oswal product note, Indel Money NCD. The prospectus is the document that governs, and it is the one to read before applying. Ask the desk and you will get both in full.
Ratings shown are reproduced from the named agency and are that agency's opinion on the issuer's ability to pay. They are not Zenith Wealth's assessment, they are not a guarantee, and they can be revised at any time. Every figure on this page is taken from the issuer's own product note and prospectus; where the two differ, the prospectus governs.
Next step
Ask about Indel Money Limited
Tell us which series you are looking at and you will get the product note and the prospectus in full. Nothing is applied for on this site.