Rating
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The rating agency for this Bond is India Ratings.
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IKF Finance Mar '28
₹9,961.10YTM
8.90%Tenure left
21 monthsInterest payout
QuarterlyPrincipal payout
StructuredBonds details
Minimum investment₹9,961.10
Date of maturity10 Mar 2028
ISININE859C07253
Bond typeSenior Secured
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About
IKF Finance Limited (IKFF) is a Non-Banking Financial Company (NBFC) that commenced operations in 1991, primarily targeting the underpenetrated used commercial vehicle and construction equipment financing segment. The company later expanded its portfolio to include home loans and loans against property through its fully-owned subsidiary, IKF Home Finance Limited (IKFH). As of the first half of FY26, the consolidated group operates a network of 320 branches, predominantly in the southern region of India, with a combined workforce of over 2,850 employees. The entity is promoted by Mr. V. G. K. Prasad and is strongly supported by prominent private equity investors, including Norwest Capital LLC, Motilal Oswal Wealth Limited, and Creador PE.;
Pros and Cons
Pros
Cons
IKF's Assets Under Management (AUM) grew organically by 37% year-on-year to reach INR 73,890 million in the first half of FY26, supported by a steadily expanding branch network.
The company maintains strong capitalization with a tangible equity base of INR 18,450 million and improved leverage of 2.86x, bolstered by a recent equity infusion of INR 7,500 million from marquee investors and promoters.
The company reported a solid profit after tax of INR 842.8 million in the first half of FY26 with a return on equity of 11.59%, successfully sustaining its net interest margins despite an elevated cost of funding.
The borrowing profile is highly diversified across more than 60 lending partners, utilizing term loans, non-convertible debentures, securitization transactions, and cash-credit facilities.
The franchise benefits from a three-decade operating track record, an experienced senior management team, and strong strategic backing from key institutional investors who hold a combined 52.48% stake in the company.
Other details
Clean price₹9,982.06
Dirty price₹9,961.10
Current yield8.52%
Security cover1.10X of POS
Issue size1.00Cr
Original bond tenure24 months
TrusteeCatalyst Trusteeship Limited (Formerly GDA Trusteeship Limited)
Mode of issueNCD
Listed onNSE
Listing date10 Mar 2026
Maturity date10 Mar 2028
Coupon rate8.50%
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