Indel Money appoints investment banker to raise USD 30-40 mn from PE Funds

New Delhi, Sep 29 (PTI) Gold loan financier Indel Money has announced the appointment of an investment banker to raise funds of USD 30-40 million through private equity to augment its growth initiatives.

The NBFC plans to go public towards FY29, and the current round is a precursor to it, Indel Money said in a statement.

Before the IPO, the company eyes two rounds of equity infusion, which will help the gold-based lender evolve as a well-regulated, compliance-driven financial service provider, it said.

Indel Money recorded robust performance in FY25 with assets under management (AUM) growing from Rs 2,400 crore to Rs 2,700 crore, it said.

It said the company grew not only in terms of the value of gold loans but also in gold holdings, outpacing peers who primarily registered value-led growth.

*** Axis Bank launches gold-backed credit on UPI powered by Freecharge * Axis Bank, in collaboration with Freecharge, has unveiled credit on UPI with Gold Loans - India's first gold-backed credit line accessible through the Unified Payments Interface (UPI).

This product is designed to unlock the economic potential of gold assets, especially for micro, small and medium enterprises (MSMEs), self-employed entrepreneurs and merchants across both urban and rural India, a joint statement said on Monday.

Credit on UPI with gold loans enables customers to access instant credit against their gold holdings, it said.

The product is available to existing Axis Bank customers across all branches processing gold loans and offers a completely digital journey for utilisation and repayments, eliminating the need for physical branch visits post onboarding, it said.

The product charges interest solely on the utilised amount, making it a cost-effective solution for working capital, business growth or urgent liquidity needs, it said, adding that payments and repayments can be made instantly via UPI or UPI QR using Freecharge or any UPI app, providing customers with transparent, real-time cash flow management.

*** Bank of Baroda, IIFL Finance enter into co-lending pact * State-owned Bank of Baroda (BoB) and NBFC IIFL Finance have entered into a co-lending partnership to offer gold loans primarily targeted at underserved and unbanked customer segments across semi-urban and rural India.

The collaboration aims to provide small borrowers with faster, easier, and more affordable credit for agricultural and allied activities, a joint statement said on Monday.

Under this agreement and in line with the RBI's guidelines on co-lending, IIFL Finance will originate and service the gold loans, while BoB will participate in the funding, with joint underwriting by both parties, enabling a seamless and scalable credit delivery mechanism, it said.

The partnership will leverage the bank's robust capital base & access to low-cost funds and IIFL Finance's deep reach, significantly enhancing financial inclusion, it added. PTI DP DP SHW