Indel Money in talks with PE players to sell 15 percent for Rs 140 crore

Indel Money, a South India-based non-bank financial firm (NBFC), is in talks with private equity firms to sell 10-15 percent of its capital for Rs.140 million.

With the sale, the company is aiming for faster growth by opening up 22 new markets in the financial year and opting for a possible listing on the stock exchange.
Umesh Mohanan, CEO and CEO of Indel Money, said: “We are in active discussions with several public companies in the US and Singapore to raise capital. We can transfer 1015% of our capital to a good investor for around Rs 140. ” “. crore, depending on the amount of dilution, and a valuation north of Rs 400 crore. We expect the investor to finalise in December.”
Indel Money currently has 191 branches mainly in Kerala, Tamil Nadu and Karnataka and operates in This financial year will open almost 100 more branches in Maharashtra, Telangana and Andhra, with the aim of increasing the number of branches to over 400 for the financial year 23.
“Indel closed the financial year 21 with an active gold loan from AUM (Asset under Management) in the amount of 580 billion in the worst case and Rs 1000 crore in the best case this fiscal year. and exceed Rs 1.3 billion for fiscal 23, “said Mr Mohanan.

Diversified Indel Corporation, with revenues over Rs 1 billion, made a foray into gold in 2013, offering a year of gold credit and the first long-term gold loan with
The organised gold loan market is expected to be Rs 4.6 billion this fiscal year.

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