Godrej Capital is set to co-lend with Indel Money, with the partnership expected to start with a book size of around Rs 200 crore, three people aware of the development from the respective organisations told ETBFSI.
In this co lending arrangement, Godrej Capital retains 80 per cent of the loan exposure and Indel Money accounts for the remaining 20 per cent
“The co lending arrangement is in the final stages of technology integration and lending should begin in this quarter itself,” one of the executives said.
Another executive ETBFSI spoke to also mentioned that the initial book size is looked at to be nearly Rs 200 crore and then to be assessed whether the exposure should be further increased or not.
Godrej Capital MD & CEO Manish Shah, in an interview with ETBFSI in June 2026 had said the company was not a large player in co-lending under the earlier norms and co-lending remains a small part of Godrej Capital’s overall business and having started exploring the model only in the last year.
“Even off of our Rs 30,000 crore, it will be less than 5 per cent. So, it’s very small for us,” Shah said.
However, Shah said the company sees co-lending as an important opportunity beyond the immediate size of the business. “Just in general, I think it’s very beneficial to have an opportunity that extends both to non banks partnering with banks and to larger NBFCs working with smaller non-banks.”
The co-lending partnership which has been in the works for months is also set for execution, coming after Godrej Capital entered the gold loan segment through the acquisition of the gold loan business of Andhra Pradesh based Kanakadurga Finance through its subsidiary Godrej Finance.
The transaction, announced in July, added a gold loan portfolio of around Rs 280 crore, nearly 12,000 customers and 54 branches across Andhra Pradesh to Godrej Capital’s franchise.
An email sent to Godrej Capital did not elicit a response till the time of publishing.
