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 ICRA Limited.
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Satin Housing Finance Limited Apr '29
YTM
11.05%Tenure left
29 monthsInterest payout
MonthlyPrincipal payout
StructuredBond details
Minimum investment₹9,916.05
Date of maturity12 Apr 2029
ISININE02YC07042
Bond typeSenior Secured
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About
Satin Housing Finance Limited (Satin HFL) is an NBFC-Housing Finance Company (NBFC-HFC) and a wholly-owned subsidiary of Satin Creditcare Network Limited (SCNL), an established NBFC-MFI. Initiating operations in February 2018, Satin HFL operates primarily in the affordable housing finance segment, providing housing loans (HLs), loans against property (LAP), micro-HLs, and micro-LAP. The company targets a relatively vulnerable demographic of low-to-middle-income borrowers, most of whom are engaged in small private enterprises or proprietorships. As of June 30, 2026, Satin HFL managed an Assets Under Management (AUM) portfolio of Rs. 1,263 crore and had expanded its operations across 22 states.;
Pros and Cons
Pros
Cons
ICRA assigned a new long-term rating of [ICRA]A- (Stable) to the company's Rs. 50 crore NCD program and reaffirmed the [ICRA]A- (Stable) rating across its existing Rs. 800 crore debt programs and bank facilities.
The company benefits from strong parentage, receiving vital operational support, board-level guidance, and financial backing from its parent entity, Satin Creditcare Network Limited.
Capitalization levels remain highly adequate, marked by a robust Capital-to-Risk Weighted Assets Ratio (CRAR) of 59.8% and a managed gearing ratio of 2.4 times as of June 30, 2026.
Regular equity infusions from its parent, including Rs. 100 crore in FY2026 and Rs. 70 crore in FY2025, consistently support the company's capital structure and growth plans.
The company maintains an adequate liquidity profile, with Rs. 48 crore in on-book liquidity and Rs. 298 crore in scheduled collections easily covering its scheduled debt obligations of Rs. 286 crore over the next 12 months.
Other details
Clean price₹9,935.61
Dirty price₹9,916.05
Current yield10.26%
Security cover1.10X of POS
Issue sizeNA
Original bond tenure30 months
TrusteeCatalyst Trusteeship Limited (Formerly GDA Trusteeship Limited)
Mode of issueNCD
Listed onNSE
Listing date12 Oct 2026
Coupon rate10.20%
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