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The rating agency for this Bond is ACUITE.
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Arman Financial Services Sep '28
₹10,180.85YTM
11.10%Tenure left
25 monthsInterest payout
QuarterlyPrincipal payout
StructuredBond details
Minimum investment₹10,180.85
Date of maturity25 Sep 2028
ISININE109C07147
Bond typeSenior Secured
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About
Arman Financial Services Limited (AFSL) is a non-deposit taking Non-Banking Financial Company (NBFC) incorporated in 1992 and listed on the BSE in 1995. Promoted by Mr. Jayendra Patel, the company initially focused on asset-backed finance lending in Gujarat before becoming the first in India to secure an NBFC-MFI license for its wholly owned subsidiary, Namra Finance Limited, in 2013. Operating on a consolidated basis across 10 states through a network of 402 branches, the Arman Group provides micro-financing, two-wheeler financing, MSME loans, and Joint Liability Group (JLG) financing.;
Pros and Cons
Pros
Cons
The company boasts a long and established operational track record of 29 years in the financing industry, navigating through various business cycles successfully.
The leadership team brings extensive expertise to the business, with the managing director and the board chairman each possessing 35 years of senior managerial and regulatory experience in the financial sector.
The group maintains a robust capital structure, evidenced by its net worth improving to Rs 874.41 crore in FY25 alongside a healthy Capital Adequacy Ratio of 37.34%.
Management has demonstrated prudent debt handling, successfully moderating the company's gearing ratio from 2.12 times in FY24 down to 1.41 times in FY25.
The business sustains healthy net interest margins and exhibits strong operational momentum in its Loan Against Property portfolio, signaling a strategic pivot toward a higher quality, secured loan book.
Other details
Clean price₹10,037.51
Dirty price₹10,180.85
Current yield10.86%
Security cover1.10X of POS
Issue size10.00L
Original bond tenure30 months
TrusteeVardhaman Trusteeship Private Limited
Mode of issueNCD
Listed onNSE
Listing date25 Mar 2026
Coupon rate10.90%
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