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The rating agency for this Bond is ACUITE.
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Namra Finance Limited Apr '28
₹10,063.18YTM
11.30%Tenure left
20 monthsInterest payout
QuarterlyPrincipal payout
BulletBond details
Minimum investment₹10,063.18
Date of maturity24 Apr 2028
ISININE229U07186
Bond typeSenior Secured
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About
Namra Finance Limited (NFL) is a Gujarat-based Non-Banking Financial Company - Micro Finance Institution (NBFC-MFI) and a wholly owned subsidiary of Arman Financial Services Limited (AFSL). Promoted by Mr. Jayendra Patel, the company obtained its NBFC-MFI license from the Reserve Bank of India on February 14, 2013, to exclusively handle the microfinance lending operations of the parent group. On a consolidated basis, the Arman Group provides joint liability group financing, two-wheeler financing, and MSME lending across 10 states, operating through a network of 402 branches spread across 149 districts as of March 31, 2024.;
Pros and Cons
Pros
Cons
The company draws significant strength from its promoters and management team, including founder Mr. Jayendra Patel and Chairman Mr. Alok Prasad, who each bring over 35 years of senior regulatory and financial sector experience.
Capitalization remains highly robust at the group level, featuring an improved net worth of Rs. 874.41 crore and a strong Capital Adequacy Ratio of 37.34% in FY25.
The group's leverage profile has improved considerably, with the overall gearing ratio moderating to a prudent 1.41 times in FY25 down from 2.12 times in FY24.
Downside risk and potential credit losses are actively mitigated by the Credit Guarantee Fund for Micro Units scheme, which covers approximately 50% of the company's assets under management as of June 2025.
The underwriting framework has been enhanced through the introduction of a Branch Credit Manager model across 50% of its branches, allowing for decentralized and independent credit evaluations.
Other details
Clean price₹10,006.44
Dirty price₹10,063.18
Current yield11.30%
Security cover--
Issue size150.00Cr
Original bond tenure24 months
TrusteeVardhaman Trusteeship Private Limited
Mode of issueNCD
Listed onNSE
Listing date24 Apr 2026
Coupon rate10.90%
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