NBFC Indel Money raises ₹50 cr via first tranche of market-linked debentures
Indel Money plans to raise additional ₹250 crore by issuing the second tranche of the MLDs in Q3FY23.
Indel Money is set to add 90 branches in FY23 to its network by foraying into Maharashtra in Q3FY23 and Gujarat in Q4FY23.
Indel Money, the flagship company of Indel Corporation, on Thursday, announced the raising of ₹50 crore through the first tranche of its principal-protected market-linked debentures (MLDs). The issue offers a fixed coupon rate and comes with tenures of 16 and 18 months. The company plans to utilise the fresh capital from MLDs for expanding its book size along with its footprint.