Indel Money to raise up to Rs 150 cr via NCDs to fund growth plans

Quick Summary:

Gold loan financier Indel Money on Monday said it plans to raise up to Rs 150 crore through non-convertible debentures to fund business growth.

The funds raised through this issue will be used for the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the company and general corporate purposes, it said.

The company expects to penetrate new markets and expand its customer base in rural and semi-urban markets where a large portion of the population has limited access to credit, it said.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Non convertible debentures Debentures Gold loans Indel Money

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 17:27:35 (4 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 192 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23152934

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