Gold loan company Indel Money, which aims at initial public offering (IPO) in 2026-27, on Tuesday announced public issue of debentures worth Rs 200 crore. The fourth public issue of secured, redeemable non-convertible debentures (NCDs) of Rs 1,000 face value would open for subscription on January 30 and offers highest rate option of 12.25 per cent for 72 months. The issue includes a base size for an amount of up to Rs 100 crore with an option to retain over-subscription up to Rs 100 crore aggregating up to Rs 200 crore. Asked as to why public offer of NCDs, Indel Money CEO Umesh Mohanan said, "this is in anticipation for IPO that we are targeting in 2026-27". The funds raised through NCD issue will be used for the purpose of onward lending, financing and for repayment/prepayment of principal and interest on borrowings of the company, he said. "Our business strategy is designed to capitalize on our competitive strengths to enhance our position in the gold loan industry and to expan