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The rating agency for this Bond is ICRA.
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Satin Finserv Limited Mar '28
₹9,875.95YTM
12.00%Tenure left
19 monthsInterest payout
MonthlyPrincipal payout
BulletBond details
Minimum investment₹9,875.95
Date of maturity20 Mar 2028
ISININE03K307132
Bond typeSecured
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About
Satin Finserv Limited (SFL) is a Non-Banking Financial Company (NBFC) operating since March 2019. It functions as a wholly-owned subsidiary of Satin Creditcare Network Limited (SCNL). SFL offers micro, small, and medium enterprise (MSME) loans across retail and wholesale segments. As of December 31, 2025, the company had operations across 11 states in India with Assets Under Management (AUM) of Rs. 759 crore (and an on-book portfolio of Rs. 698 crore). The company recently expanded its product offerings by launching a Sustainable Emerging Business (SEB) vertical focused on sustainable financing.;
Pros and Cons
Pros
Cons
SFL benefits from strong operational and financial parentage from SCNL, which provides board-level guidance through common director Dr. HP Singh, shared brand presence, and ongoing capital support (including a Rs. 50 crore equity infusion in December 2025).
The company maintains an adequate capitalization profile, supported by a Capital-to-Risk Weighted Assets Ratio (CRAR) of 36.1% and a low managed gearing of 2.7 times as of December 31, 2025.
AUM experienced rapid annualized growth of ~55% to reach Rs. 759 crore as of December 31, 2025 (up from Rs. 547 crore in March 2025), driven primarily by disbursements in its newly launched sustainable financing (SEB) vertical.
SFL maintains an adequate liquidity position, featuring Rs. 105 crore in free on-book cash along with Rs. 11 crore in unutilized sanctioned lines to comfortably meet its 6-month debt repayment obligations.
The company has the opportunity to leverage the established and fairly diversified lender relationships of its parent entity to support future resource raising and portfolio expansion.
Other details
Clean price₹9,831.02
Dirty price₹9,875.95
Current yield12.00%
Security cover--
Issue size40.00Cr
Original bond tenure20 months
TrusteeCatalyst Trusteeship Limited (Formerly GDA Trusteeship Limited)
Mode of issueNCD
Listed onNSE
Listing date03 Jul 2026
Coupon rate10.25%
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