Rating
The rating of an issuer company reflects its past growth and performance. The rating increases when the company consistently performs well and decreases when it is not performing well.
The rating agency for this Bond is CARE.
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Vivriti Capital Limited May '28
₹9,938.19YTM
10.25%Tenure left
19 monthsInterest payout
QuarterlyPrincipal payout
BulletBond details
Minimum investment₹9,938.19
Date of maturity04 May 2028
ISININE01HV07635
Bond typeSenior Secured
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About
Vivriti Capital Limited (VCL) is a non-deposit-taking systemically important Non-Banking Financial Company (NBFC-NDSI) registered with the RBI, incorporated in June 2017 and promoted by Mr. Vineet Sukumar. The company provides enterprise loans to financial and non-financial sector entities, alongside retail loans offered primarily through supply chain financing and co-lending partnerships. As of June 30, 2025, VCL managed an Assets Under Management (AUM) portfolio of Rs 9,301 crore, catering to over 300 enterprise clients and more than 14 lakh retail clients. VCL is currently executing a corporate restructuring scheme to separate its online platform, asset management, and NBFC businesses into distinct legal entities, aiming to de-risk the balance sheet and provide strategic flexibility.;
Pros and Cons
Pros
Cons
The company has achieved a significant scale-up in its operations, with its AUM growing from Rs 8,071 crore as of March 31, 2024, to Rs 9,302 crore as of March 31, 2025, which supported a 30% increase in total income.
Capitalization levels remain comfortable due to periodic equity infusions totaling Rs 1,399 crore from marquee institutional investors such as Creation Investments and Lightrock, supporting a tangible net worth of Rs 2,079 crore and a Capital Adequacy Ratio of 21.02% as of March 31, 2025.
The resource profile is well-diversified across over 45 lender relationships, with banks accounting for 56% of borrowings as of March 31, 2025, effectively reducing concentration risk from other NBFC lenders.
The business benefits from an experienced promoter and leadership team with extensive domain knowledge in financial services, further strengthened by active board representation from its institutional investors.
Liquidity is adequate with no negative cumulative mismatches across time buckets, supported by structural cash flow alignment where 90% to 95% of the loan portfolio is monthly amortizing.
Other details
Clean price₹9,905.24
Dirty price₹9,938.19
Current yield10.25%
Security cover--
Issue size150.00Cr
Original bond tenure32 months
TrusteeBeacon Trusteeship Ltd
Mode of issueNCD
Listed onNSE
Listing date04 Sep 2025
Coupon rate9.25%
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