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The rating agency for this Bond is CARE Ratings.
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Midland Microfin Jun '27
₹99,894.15YTM
12.50%Tenure left
13 monthsInterest payout
MonthlyPrincipal payout
MaturityBonds details
Minimum investment₹99,894.15
Date of maturity30 Jun 2027
ISININE884Q07822
Bond typeSenior Secured
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About
Midland Microfin Limited (MIDLAND) was originally incorporated in May 1988 as Sajan Hire Purchase Private Limited, initially engaging in the hire purchase business. In January 2011, the company rebranded to its current name, discontinued its hire purchase operations, and pivoted to microfinance lending. It has been registered with the Reserve Bank of India (RBI) as an NBFC-MFI since January 2015. Promoted and headed by Managing Director Mr. Amardeep Singh Samra, who possesses over two decades of financial sector experience, the company serves a client base of 8.6 lakh borrowers with average loan ticket sizes ranging from ₹11,000 to ₹80,000. As of September 30, 2025, MIDLAND operates a network of 570 branches across 15 states and two Union Territories.;
Pros and Cons
Pros
Cons
The company maintains adequate capitalisation metrics, supported by regular equity infusions from shareholders that kept its Capital Adequacy Ratio (CAR) at a comfortable 33.37% as of September 2025.
It benefits from a well-established operational track record in the microfinance industry dating back to 2011, guided by an experienced promoter and a diverse six-member board of directors.
The funding and resource profile is highly diversified across more than 48 lenders, successfully utilizing banks, NBFCs, external commercial borrowings, and capital market instruments.
It enjoys an adequate liquidity position driven by well-matched asset and liability management (ALM), balancing its shorter-tenure microfinance loans against longer-tenure borrowings.
The company holds a healthy liquidity buffer, maintaining cash and bank balances of ₹535 crore (excluding margin money deposits) to comfortably cover its near-term borrowing obligations.
Other details
Clean price₹99,862.15
Dirty price₹99,894.20
Current yield11.72%
Security cover1.10X of POS
Issue size1.00Cr
Original bond tenure18 months
TrusteeCatalyst Trusteeship Limited (Formerly GDA Trusteeship Limited)
Mode of issueNCD
Listed onNSE
Listing date30 Dec 2025
Maturity date30 Jun 2027
Coupon rate11.70%
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