Indel Money appoints investment banker Lincoln International to raise $30-40 million ahead of IPO

Gold-loan bon-banking finance company (NBFC) Indel Money, which plans to raise around $30–40 million from PE funds to augment its growth initiatives, announced the appointment of investment banker Lincoln International to raise funds through private equity.

The NBFC plans to go public towards FY29 and the current round is a precursor to it. 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.

The asset under management (AUM) of Indel Money grew from ₹2400 crores to ₹2,700 crore in FY25. The company grew not only in terms of the value of gold loans but also in gold holdings,


Commenting on the development CEO and Executive Director Umesh Mohanan said: “We are pleased to announce that Lincoln International has been appointed as the iBanker for PE fundraise. We are very optimistic about the fundraise as it will help us in many ways – to discover our price, to fund national expansion, and
to assimilate global governance practices.”