Gold lending-focused non-bank finance company Indel Money announced Thursday that it plans to raise up to Rs 150 crore by issuing secured and unsecured non-convertible notes (NCDs).
The issue has a base issue size of up to Rs 75 crore, with the option to maintain an oversubscription of up to Rs 75 crore, which adds up to Rs 150 crore, according to a press release.
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The terms for secured NCDs range from 366 days to 54 months and from 61 to 71 months for unsecured NCDs, it said.
The bonds offer coupon rates of up to 12 percent per year.
The funds raised through this issue will be used for on-lending, financing and repayment / prepayment of principal and interest on the company’s loans, as well as for general corporate purposes, the announcement said.
The issue opened for subscription on September 23 and ends on October 18, 2021.
