Indel Money’s 500 Crore NCD Issue (250 Cr Base issue + 250 Cr Greenshoe) Oversubscribed by 704%, ₹1,759 Crore in Subscriptions
City Air News
Aug 29, 2026 02:22
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Indel Money Limited’s public issue of Secured, Rated, Listed and Redeemable Non-Convertible Debentures (NCDs) drew strong response from investors, with the entire issue of up to Rs 500 crore, including the Rs 250 crore Green Shoe Option, fully subscribed within four hours of opening on August 18, 2026. The issue, with a base size of Rs 250 crore and an option to retain oversubscription of up to Rs 250 crore, was pre-closed on August 20, 2026, ahead of its scheduled closing date. The company received bids worth Rs 1,759 crore, equivalent to 704% of the base issue size.
The NCDs, with a face value of Rs 1,000 each, carry an effective yield of up to 12.25% per annum and are proposed to be listed on BSE Limited. The NCDs have been rated ‘IND A-/Stable’ by India Ratings and Research Pvt. Ltd.
Umesh Mohanan, Whole Time Director, Indel Money, said: “The overwhelming response to the issue reflects the confidence investors have placed in Indel Money and our growth strategy. The fact that the entire Rs 500 crore issue was subscribed within four hours, followed by total subscription of Rs 1,759 crore, is particularly encouraging.
As we expand our lending franchise, this strong investor response enhances our ability to access diversified sources of capital to serve the evolving credit needs of individuals and businesses mainly across rural parts of India. The proceeds from the Issue will augment Indel’s capital position and support our onward lending activities, refinancing and debt servicing requirements, while enabling us to pursue our long-term growth objectives.”
