Gold-based lending company Indel Money seeks first major outside institutional investor
Indel Money, a non-banking financial company specialising in gold loans, is seeking equity funding to fuel its growth. This marks the first round of external funding for the promoter-led company, although the exact amount being sought remains undisclosed.
While details about the equity funding plans and potential external institutional investors are scarce, Indel Money's involvement in debt financing is evident through its high-yield corporate bonds. One of the highest-yielding listed corporate bonds in India, Indel Money's bond offers a secured senior structure with a yield to maturity of up to 13.70%. The bond carries a BBB+ credit rating by CRISIL, indicating moderate risk.
In addition to its debt financing activities, Indel Money provides instant gold loans with flexible repayment options across over 360 branches. The company emphasises building financial strength through steady support and smart financial choices.
Other financial institutions, such as Varthana Finance, CreditWise, TapFin, and Ecofy Finance, have recently secured institutional funding. However, the nature and purpose of these funding rounds are not specified, nor is the funding status of Indel Money in this context.
The regulatory landscape has led to the Aavishkaar Group considering selling an arm due to stalled IPOs and setbacks. The location or headquarters of Indel Money, Varthana Finance, CreditWise, TapFin, Ecofy Finance, or the potential external institutional investor for Indel Money remains undisclosed.
For more detailed information on Indel Money's equity funding plans, investors and analysts are advised to direct their inquiries to the company or financial news platforms that cover corporate funding activities.
Indel Money is actively exploring equity funding to enhance its growth, marking its first external round of funding. Despite the lack of specific funding details, Indel Money's involvement in debt financing is clear with its top-yielding corporate bonds.
