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The rating agency for this Bond is ICRA.
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Satin Finserv Ltd. Jan '29
YTM
11.80%Tenure left
26 monthsInterest payout
QuarterlyPrincipal payout
BulletBond details
Minimum investment₹9,910.50
Date of maturity12 Jan 2029
ISININE03K307223
Bond typeSenior Secured
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About
Satin Finserv Limited (SFL) is a non-banking financial company (NBFC) that commenced operations in March 2019. It operates as a wholly-owned subsidiary of the NBFC-microfinance institution Satin Creditcare Network Limited (SCNL). SFL offers micro, small, and medium enterprise (MSME) loans, specifically focusing on retail micro-enterprise groups and Sustainable & Emerging Businesses (SEB). As of June 30, 2026, the company reported an Assets Under Management (AUM) portfolio of Rs. 1,360 crore and maintained operations across 14 states.;
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ICRA assigned a new long-term rating of [ICRA]A- (Stable) for the company's Rs. 300 crore Non-Convertible Debenture (NCD) program and reaffirmed the ratings for its existing bank facilities and commercial paper.
The company benefits from strong parentage, receiving continuous board-level guidance and timely financial support—including equity infusions of Rs. 50 crore in May 2026 and Rs. 70 crore in July 2026—from its parent entity, SCNL.
Capitalization levels remain adequate for current operations, marked by a Capital-to-Risk Weighted Assets Ratio (CRAR) of 27.1% and a managed gearing of 3.5 times as of June 30, 2026.
The loan portfolio demonstrated significant expansion, with AUM growth reaching approximately 93% in FY2026 and 134% year-on-year in Q1 FY2027, driven by the rapid scale-up of the newly launched SEB vertical.
The liquidity profile is adequate, featuring a free cash and bank balance of approximately Rs. 158 crore as of June 30, 2026, which comfortably covers the scheduled debt principal repayments of Rs. 216 crore against scheduled principal collections of approximately Rs. 250 crore during July–December 2026.
Other details
Clean price₹9,841.46
Dirty price₹9,910.50
Current yield11.80%
Security cover--
Issue size1000.00Cr
Original bond tenure26 months
TrusteeCatalyst Trusteeship Ltd
Mode of issueNCD
Listed onNSE
Listing date14 Oct 2026
Coupon rate10.50%
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