गोल्ड लोन कंपनी इंडेल मनी की मार्च तक 1,600 करोड़ रुपये की एयूएम और एनसीडी के जरिए 200 करोड़ रुपये जुटाने की योजना है।

Indel Money, a mid-level gold loan company based in Kochi, foresees concluding the current fiscal year with a loan book of approximately Rs 1,600 crore, driven by an escalating demand for credit. Additionally, the company has revealed its fourth debt issuance, aiming to raise up to Rs 200 crore, offering investors an annual yield of up to 12.25 %. The issuance period spans from January 30 to February 12.

Umesh Mohanan, the executive director of the company, stated, "Closing the December quarter with an outstanding loan book of Rs 1,410 crore, and based on the current monthly run-rate, we anticipate adding another Rs 200 crore to the AUM by March, bringing the loan book to Rs 1,600 crore." The company achieved an AUM of Rs 1,154 crore in the last fiscal year, generating a net income of Rs 38 crore.

With approximately 90 % of its loan book originating from gold loans, Indel Money holds over 3.5 tonnes of pledged gold. The company has diversified its loan offerings by introducing long-term loans of up to three years, expanding beyond the traditional three to six months tenor. Additionally, it provides unsecured consumer credit, small business loans, and loans against property.

In terms of market presence, Indel Money stands out with significant shares in Tamil Nadu (28.2 %), Karnataka (27.5 %), and Odisha (16 %), while Kerala contributes only 3.5 % to its business. Expansion plans include entering Gujarat and the Andaman Islands in the current quarter and Bengal and the Northeast in the next fiscal year.

Currently operating over 265 branches across various states, including Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Odisha, Maharashtra, Telangana, Puducherry, Delhi, Uttar Pradesh, and Gujarat, the company has added more than 60 branches in the current fiscal year, with plans to open an additional 25 in the current quarter.

Gold loan company Indel Money plans to raise AUM of Rs 1,600 crore by March and Rs 200 crore through NCDs.