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Indel Money plans to raise ₹150 crore of funds through secured and unsecured redeemable non- convertible debentures.
The issue includes a base issue size for ₹75 crore with an option to retain over subscription up to ₹75 crore aggregating up to ₹150 crore.
“The funds raised through this issue will be used for the purpose of onward lending, financing, and for repayment and prepayment of principal and interest on borrowings of the company (at least 75 per cent) and general corporate purposes (maximum of up to 25 per cent),” Indel Money said in a statement on Thursday.
The secured and unsecured NCDs come with the face value of ₹1,000 each. The issue opens on September 23 and closes on October 18 with an option of early closure in case of early over subscription.
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