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The rating agency for this Bond is ICRA Limited.
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Saarathi Finance and Credit Private Limited Sep '29
YTM
10.75%Tenure left
35 monthsInterest payout
MonthlyPrincipal payout
StructuredBond details
Minimum investment₹10,002.10
Date of maturity29 Sep 2029
ISININE2LQA07032
Bond typeSecured
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About
Saarathi Finance and Credit Private Limited (SFCPL; founded by Mr. Vivek Bansal) was incorporated in August 2024 and received its Reserve Bank of India (RBI) Non-Banking Financial Company (NBFC) license in April 2025. Headquartered in India, the company provides retail financing solutions—primarily secured business loans and unsecured business loans—to micro, small, and medium enterprises (MSMEs) and self-employed customers across semi-urban and rural areas. Beyond core lending, SFCPL operates fee-based business streams encompassing debt syndication/advisory services and non-performing asset (NPA) purchase and collection arrangements. As of June 30, 2026, the company operates 83 branches across six states (Uttar Pradesh, Rajasthan, Karnataka, Andhra Pradesh, Telangana, and Tamil Nadu) with an employee base of 941 and Assets Under Management (AUM) of Rs. 596 crore.;
Pros and Cons
Pros
Cons
Robust Capitalisation Base Backed by Marquee Investors: SFCPL maintains a healthy capital base with a net worth of Rs. 477 crore and a Capital Adequacy Ratio (CRAR) of 56.2% as of June 30, 2026, supported by Rs. 477 crore raised since inception from the Founder & CEO (51% stake) and private equity firms such as TVS Capital, Evolvence, Lok Capital, and Paragon Partners (~41% stake).
Focused Retail Secured Lending Strategy in Growth Markets: The company's portfolio is almost entirely composed of secured loans backed by property mortgages across semi-urban and rural business hubs, positioning it to capture significant growth potential in underserved MSME markets.
Experienced Management and Qualified Governance Framework: SFCPL is led by an experienced promoter and management team, supported by a seven-member Board of Directors that includes two independent directors and four private equity nominee directors.
Complementary Fee-Based Revenue Streams: Early profitability and cash flows are bolstered by fee-based income from debt advisory/syndication and ARC loan collection arrangements, providing earnings support while the primary lending franchise scales up.
Adequate Liquidity Cushion with Strong Capital Buffers: The company maintains an adequate liquidity profile with positive cumulative mismatches in the up-to-one-year maturity bucket, backed by Rs. 251 crore in unencumbered cash/liquid investments and Rs. 52 crore in unutilized bank lines as of June 30, 2026.
Other details
Clean price₹9,985.33
Dirty price₹10,002.10
Current yield10.21%
Security cover1.00X of POS
Issue sizeNA
Original bond tenure36 months
TrusteeCatalyst Trusteeship Limited (Formerly GDA Trusteeship Limited)
Mode of issueNCD
Listed onNSE
Listing date29 Sep 2026
Coupon rate10.20%
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