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 Finserv Aug '28
₹9,875.66YTM
11.80%Tenure left
23 monthsInterest payout
QuarterlyPrincipal payout
MaturityBond details
Minimum investment₹9,875.66
Date of maturity11 Aug 2028
ISININE03K307199
Bond typeSenior Secured
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About
Satin Finserv Limited (SFL) is a non-banking financial company (NBFC) operating as a wholly-owned subsidiary of Satin Creditcare Network Limited (SCNL). The company commenced operations in March 2019 and provides micro, small, and medium enterprise (MSME) loans, primarily catering to retail micro enterprise groups and a recently introduced Sustainable & Emerging Businesses (SEB) vertical. As of June 30, 2026, SFL operates across 14 states and manages a total loan portfolio of Rs. 1,360 crore.;
Pros and Cons
Pros
Cons
The company benefits from strong financial, operational, and board-level guidance from its parent entity, SCNL, which regularly infuses equity capital to support business expansion.
It maintains an adequate capitalization profile, featuring a capital-to-risk weighted assets ratio (CRAR) of 27.1% and a controlled managed gearing of 3.5 times as of June 30, 2026.
The business achieved exceptionally high portfolio growth, recording a ~93% increase in AUM during FY2026 and a ~134% year-on-year surge in Q1 FY2027 driven by disbursements in its SEB vertical.
The company holds an adequate liquidity position, maintaining a free cash and bank balance of ~Rs. 158 crore alongside scheduled principal collections of ~Rs. 250 crore that comfortably cover upcoming debt repayments of Rs. 216 crore between July and December 2026.
SFL has the strategic advantage of being able to leverage SCNL's established and diversified lending relationships to support its future debt funding requirements.
Other details
Clean price₹9,830.29
Dirty price₹9,875.66
Current yield10.51%
Security cover1.05X of POS
Issue sizeNA
Original bond tenure24 months
TrusteeCatalyst Trusteeship Limited (Formerly GDA Trusteeship Limited)
Mode of issueNCD
Listed onNSE
Listing date11 Aug 2026
Coupon rate10.35%
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