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BACKBONE OF INDEL CORPORATION

Our Long History

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Indel Journey

Indel Money is was founded by Mr.Palliyil Janardhanan Nair (1929- 2011), known as Peejay was one of the pilots in the first batch of then Bharat Airways which later became “The Indian Airlines”. After serving in the popular Tata Tea, Pee Jay moved into the Middle Eastern country, Kuwait in the early 70s where he joined Al Mulla Group as it’s commercial director. He played an integral key role for the growth of the “Al Mulla group” as one of the leading brands across the middle eastern countries. In the mid 80’s Pee Jay returned to India to start his entrepreneurial journey and established his financial services securing a license under the Kerala Money Lenders Act.

His initial service location was Palakkad, a town in Kerala. Henceforth, the organization strived to achieve greater milestones and started its growth as a leading financial service provider in India. With a customer-centric approach to business, the group diversified into Automobile, Hospitality, Infrastructure Development, Media, Communication and Entertainment.

Our Journey

Indel Milestones

1986
Foundation
  • Enter into regulated financial services business at a small village in Palakkad.
1997
Expansion
  • Ventured into logistics services.
1998
Manufacturing
  • Expanded into the manufacturing industry.
2011
Corporation
  • Holding company namely Indel corporation formed with a capital base of 250 Cr.
  • The Hospitality division opened the groups first 4 star classified hotel, Srivatsa Regency in Palakkad, Kerala.
2013
Indel Money
  • Finance business rebranded as Indel Money with the RBI issued license and the new journey started with 9 branches.
2014
Automotives
  • Formation of INDEL Yamaha, two-wheeler dealership under Indel Automotives Kochi Private Limited.
2015
Growth
  • Formation of INDEL Suzuki, two-wheeler dealership under Indel Automotives Private Limited.
  • Acquired Kerala Volvo (Omega Motor Private Limited) – The EXCLUSIVE dealer for Volvo Cars in Kerala.
  • Indel Money enters into the Tamil Nadu market with its first retail branch.
  • INDEL Money receives its first CRISIL credit rating.
2016
Expansion
  • Acquired Kairali Ford (Kerala Cars Private Limited) – No. 1 & the largest dealer for Ford Vehicles in India.
  • Formation of INDEL Honda, dealership under Indel Automotives Private Limited.
  • INDEL Money receives CRISIL credit rating upgrade to BBB- (stable).
2017
Acquisitions
  • Acquired MGF Hyundai (MGF Motors Limited).
  • Acquired Mobis, Hyundai exclusive spare parts distribution.
  • Opened 136th full-fledged retail asset branch of INDEL Money.
2018
Awards
  • Received the 'Ford President Award for the best dealer in India' from Ford India Managing Director.
  • Opened Kerala Volvo new showroom at Calicut.
  • Indel Money enters into the Karnataka market with the launch of its first retail branch.
2019
Market Growth
  • Indel Money enters into the AP/Telengana market with the launch of its first retail branch.
2020
Innovation
  • Opened Kairali ford new showroom at Malappuram.
  • Indel money launched its digital gold loan platform named IDGL during the lockdown.
  • Indel Money Launched "India's first 2 year tenure gold loan schemes".
  • Indel money Completed transaction for India's first revolving gold loan pass through certificates.
  • Indel money launched its door step gold loan in the city of Bengaluru.
2021
Growth
  • Indel money rating upgraded to BBB stable long term rating by CRISIL.
  • Indel money A3+ short term rating by CRISIL.
  • Formation of Indel Capital.
  • Indel Money enters into the state of Odisha with its 1st retail branch.
  • Indel Money issued its 1st NCD bond Public issue. Which was subscribed 125%.
2022
Diversification
  • Formation of Motory, Pre owned cars Sales & Service.
  • Formation of Kairali Toyota-Toyota dealership (Kairali Cars Private Limited) at Cochin.
  • Opened Kairali Toyota new showroom & service centre at Cheranellore, Cochin.
  • The Hospitality division opened the groups first 5 star classified hotel, Distrikt 9 Hotel and resorts in Palakkad, Kerala.
2023
Expansion
  • Opened Kairali Toyota showroom & service centre at Trivandrum.
  • Opened Indel Yamaha showroom & service centre at Palarivattom, Cochin.
  • Opened Indel Yamaha showroom at Mamangalam, Cochin.
  • Indel Money received rating upgrade from Crisil to BBB+.
  • Indel money did their successful issue of 3rd and 4th NCD public issue successfully.
  • Indel Money enters into the state of Madhya Pradesh with its 1st retail branch.
2024
Achievements
  • Opened Indel Suzuki new showroom & service centre at Aluva, Cochin.
  • Opened Kairali Toyota new showroom at Vytilla, Cochin.
  • Kerala Volvo received the 'Dealer of the year award' from Volvo Cars India.
  • Indel Money launched its Hybrid Gold Loan.
  • Indel Money enters into the states and UT of New Delhi, Rajasthan, Gujarat and Andamans with its 1st retail branch.
  • Indel Money issued its 5th NCD bond Public issue. Which was subscribed 138%.
2025
Growth
  • Opened Indel Suzuki new showroom & service centre at Paravoor, Cochin.
  • Formation of INDEL River-Ride River dealership (Indel Wheels LLP).
  • Formation of INDEL Mobility -Ashokleyland Service Centre (Indel Mobility Private Limited).
  • Opened Indel River new showroom & service centre at Trivandrum.
  • Opened Indel Mobility- Ashokleyland service centres at Calicut & Cochin.
  • Opened Kairali Toyota new showroom & service centre at Vennala, Cochin.
  • Opened Indel Honda new showroom & service centre at Tirur, Malappuram.
  • Indel Money Received a rating upgrade from IVR to A- stable.
  • Indel Money did its 6th NCD public issue which was oversubscribed by 313%.
2026
Future
  • Opened Indel River new showrooms & service centres at Calicut & Tirur.
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