Indel Money Wins Fastest Growing NBFC of the Year Award at the 2nd Annual BFSI Leadership Summit and Awards 2023
Indel Money, the flagship company of Indel Corporation and a gold loan non-banking finance company (NBFC), won the Fastest Growing NBFC of the Year award at the 2nd Annual BFSI Leadership Summit & Awards 2023 at an event held in Mumbai on May 5, 2023, Mr. Umesh Mohanan, ED & CEO and Jijith Raj Thekkayil, EVP & Business Head of...
Indel Money, the flagship company of Indel Corporation and a gold loan non-banking finance company (NBFC), won the Fastest Growing NBFC of the Year award at the 2nd Annual BFSI Leadership Summit & Awards 2023 at an event held in Mumbai on May 5, 2023, Mr. Umesh Mohanan, ED & CEO and Jijith Raj Thekkayil, EVP & Business Head of Indel money received the award from Mahesh G. Thakkar, Director General, Finance Industry Development Council.
|
|
Mahesh Thakkar presenting an award to Mr. Umesh Mohanan (ED & CEO), and Jijith Raj (EVP & Business Head) Indel Money
Indel Money witnessed a staggering 210 percent growth in disbursement compared to FY 21-22, having disbursed loans worth Rs. 3000 crore for FY23. Gold loans take up 92 percent of its loan portfolio. Indel Money also grew its assets under management (AUM) by 72 percent to Rs. 1,200 crore in FY23. Recording a profit of 31cr ++ for the FY23, 6times the profitability of the last FY22. The rating agency Crisil has upgraded Indel Money to "BBB+ stable" in this FY. The gold loan company also has done 2 series of public issue on its non-convertible debentures (NCDs) in FY21-22 and FY22-23 each, respectively and attained a 169 percent subscription.
