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The rating agency for this Bond is CARE Ratings.
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Manba Finance Nov '28
₹1,00,214.29YTM
11.00%Tenure left
27 monthsInterest payout
QuarterlyPrincipal payout
QuarterlyBond details
Minimum investment₹1,00,214.29
Date of maturity28 Nov 2028
ISININE939X07267
Bond typeSecured
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About
Manba Finance Limited (MFL) is a Mumbai-based, RBI-registered Non-Banking Financial Company (NBFC) incorporated in 1996, which was listed on the NSE and BSE on September 30, 2024. The company specializes primarily in two-wheeler (2W) financing, while gradually expanding into electric three-wheeler (3W) loans, used vehicle financing, small business loans, and top-up personal loans. MFL operates through a network-driven model partnered with over 1,450 dealers across 113 locations in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Uttar Pradesh, and Madhya Pradesh. As of December 31, 2025, MFL managed an Assets Under Management (AUM) base of ₹1,630.79 crore.;
Pros and Cons
Pros
Cons
MFL benefits from an established operational track record of around 30 years in two-wheeler financing, led by an experienced promoter and management team.
The company maintains an extensive origination network partnered with over 1,450 EV and traditional vehicle dealers across 113 locations in six states.
Scale of operations has demonstrated robust growth, with AUM expanding at a CAGR of 25.72% for FY21–FY25 and reaching ₹1,630.79 crore as on December 31, 2025.
Capitalization levels remain comfortable, marked by a Capital Adequacy Ratio (CAR) of 25.06% as of December 31, 2025, providing a solid buffer well above regulatory requirements.
Profitability parameters remain adequate, supported by an annualized Return on Total Assets (ROTA) of 2.83% in 9MFY26 and stable net interest margins.
Other details
Clean price₹1,00,011.00
Dirty price₹1,00,214.30
Current yield10.60%
Security cover1.10X of POS
Issue size1.00L
Original bond tenure27 months
TrusteeMitcon Trusteeship Services Limited
Mode of issueNCD
Listed onNSE
Listing date24 Aug 2026
Coupon rate10.60%
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