PROGFIN PRIVATE LIMITED

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Returns (YTM)

11.58%

Min. Investment

₹ 99,719.87

Remaining Tenure

1Y 2M 13Days

Payment Terms

Monthly

Highlights

Credit Rating

ICRA BBB+/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Asset Quality: NNPA ↓ 1.10% FY25 (vs 1.46% FY24 )

CRAR : High ,~41% in FY25 (vs 45% in FY 24)

Backing from Marque investors : Sequoia Investment, Tiger global, GrowX, Google

Experienced Management: Senior management has significant experience in Microfinance , BFSI sector

Liquidity: adequate; positive ALM and ₹1,534 cr inflows vs ₹886 cr outflows in next 12 months

Company Financials

Revenue

PAT

Debt

Net Worth

Important disclaimer

Ratio Analysis

1.1

Net NPA

Good

Benchmark: Lower than 3%

40.87

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

2.5

Debt to Equity Ratio

Good

Benchmark: Maximum 12 times

Important disclaimer

About Issuer

Progfin Private Limited is a cutting-edge NBFC transforming SME lending across India. As a wholly-owned arm of Desiderata Impact Ventures (Progcap), Progfin focuses on last-mile retailers who often struggle to access credit. Using smart tech, analytics, and seamless underwriting, Progfin makes it easier than ever for MSMEs to get working capital loans – often collateral-free. They tailor financial solutions to suit every business type, whether it’s retail, wholesale, or local services. Progfin believes in empowerment through finance, removing friction so small businesses can grow confidently and sustainably.

Total Annual Revenue

258 Cr (FY-2025)

Year of Inception

1992

Industry

NBFC Corporate

Head Office

MUMBAI

Type of Issuer

Corporate

Current MD/CEO

Ms. Pallavi Shrivastava

Credit Rating / Outlook

BBB+ STABLE

ICRA

Rating Rationale

Rating Date: 29-Sep-2025

Credit rating by different rating agencies indicates the bond issuer’s ability to repay its debt obligations. A bond can be rated by one or more SEBI registered credit rating agencies e.g. CRISIL, CARE, ICRA, IND, BWR, ACUITE, INFOMERICS.
Bonds/NCDs with BBB credit rating are considered to have a moderate to low degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry moderate to high credit risk, hence it is suitable for investors with high risk tolerance.
Stable Outlook suggests that the rating is unlikely to change significantly in the near to medium term, indicating a stable credit profile of the issuer.

Other Important Details & Disclosures

Issuer Name

PROGFIN PRIVATE LIMITED

Security Name

11% PROGFIN PRIVATE LIMITED Secured Rated Listed NCD Maturity 26-Jan-2027

ISIN

Copy

INE0MYJ07120

Face Value

₹ 1,00,000

Coupon Rate

11%

Coupon Type

FIXED

Payment Terms

Monthly

Maturity Date

26-Jan-2027

Clean Price

₹ 99.99

Dirty Price

₹ 99.72

Current Yield

11.001%

Yield to Maturity

11.583%

Mode of Issue

Private Placement

Date of Issue

26-Sep-2025

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Catalyst Trusteeship Limited

901,9th Floor, Tower- B, Peninsula Business Park,Senapati Bapat Marg, Lower Parel (W), Mumbai - 400013

Registrar Details

Maashitla Securities Private Limited

451, Krishna Apra Business Square, Netaji Subhash Place, Pitampura, Delhi 110031

Looking For More Information ?

Download Prospectus

Taxation

10%

TDS on Interest Income*

*Given TDS is indicative and fully claimable while filing ITR. The interest income from this bond will be taxable and will appear in the additional source of income in your ITR. Please consult your tax advisor for precise taxation details
As a listed bond, it is subject to capital gains tax based on the holding period. A holding period of less than 1 year qualifies as short-term, while more than 1 year qualifies as long-term.
You can submit your Form 15G/15H to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: Maashitla Securities Private Limited 451, Krishna Apra Business Square, Netaji Subhash Place, Pitampura, Delhi 110031

Unit

Investment Amount

₹ 99,719.87

Total Returns

₹ 12,199.31

Total Receivable

₹ 1,11,919.18

Cashflow Timeline

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FAQs about PROGFIN PRIVATE LIMITED bonds

How to buy this PROGFIN PRIVATE LIMITED bond online?

You can invest in bonds online in under 5 minutes. To buy PROGFIN PRIVATE LIMITED bond online follow the steps below:

Login/signup at GoldenPi
Upload your documents online to complete the KYC
Pay online via payment gateway and receive bond units in your demat account

What is the yield of this PROGFIN PRIVATE LIMITED bond?

11.583% is the current yield of this PROGFIN PRIVATE LIMITED bond. A bond’s current yield indicates the annual return based on its current market price and annual coupon payment.
In addition to current yield, the yield to maturity (YTM) of this PROGFIN PRIVATE LIMITED bond is 11.583%, which indicates the total expected return if the bond is held till the maturity date. It is calculated using the XIRR method considering current price, face value, coupon payments, and time to maturity.

Is it safe to invest in bonds?

Investing in bonds is relatively a safer option but it depends on factors like:

The creditworthiness of the issuer indicated by the credit rating
The debt quality of the bond indicated by its seniority and security
Your investment goals and risk appetite

If you are an existing bond investor and want to sell your bond holdings before maturity, you can do so through the secondary market. This can be done either through exchanges such as BSE or NSE, or you can also request a quote from your relationship manager at GoldenPi.

How to redeem this PROGFIN PRIVATE LIMITED bond?

To redeem this PROGFIN PRIVATE LIMITED bond, bond, kindly first check its redemption value and redemption schedule. This can be found by downloading the cash flow from the “Calculate Your Returns” section of this page or by contacting the support team at GoldenPi.
Once you buy this bond, the units would be reflected in your demat account.
Upon maturity, the bond units held in your demat account will be automatically debited on the maturity date, and if the maturity date falls on a bank holiday, the redemption amount will be paid out on the next working day.
The funds will be credited to the bank account linked to your demat account. The process of redeeming this PROGFIN PRIVATE LIMITED bond is generally simple and straightforward. Contact our support team for more information.

Is this PROGFIN PRIVATE LIMITED bond tax-free?

No, this PROGFIN PRIVATE LIMITED bond is not tax free. The interest income received from these bonds will be treated as “income from other sources” in the ITR and the tax will be calculated as per your income tax slab.

To know more about taxation in detail please read this article: https://goldenpi.com/blogessentials/bond-market/taxation-on-gains-from-bond-investments/

Can I sell this PROGFIN PRIVATE LIMITED bond before the maturity date?

Yes, it is possible to sell this PROGFIN PRIVATE LIMITED bond before maturity. However, as the sale process happens in the secondary market, the price can be determined by a variety of factors, including interest rates, credit ratings, company performance, and market demand.

To know more about the sale process, contact us at https://goldenpi.com/contact-us

Need Help?

Talk to our Support Team for free. We will help you through your investment journey.

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Investments in debt securities/municipal debt securities/securitized debt instruments are subject to risks including delay and/or default in payment. Read all the offer-related documents carefully.
Investors can update their email id and mobile number with their stock broker / depository participant and receive OTP directly from the depository on email id and/or mobile number to create a pledge. Investors can check their securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.

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The information shown on the website should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products/services of GSPL or any product/services of its third-party client(s). The user should act and rely on the information/data shown on the website only after understanding all associated risk parameters. Any action/decision taken by the user on the basis of the information shown on this website shall be the sole responsibility of the user. Neither GSPL nor its directors, employees, associates, representatives, or agents shall be liable for any damages whether direct, indirect, special, or consequential including lost revenue or lost profits that may arise to the user from or in connection with the use of the information/data shown on this website.

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Fixed Deposits are offered in the capacity of a distributor and all disputes with respect to distribution activity, would not have access to exchange investor redressal forum or arbitration mechanism.

Filling complaints on SMARTODR & SCORES - Easy & Quick

a. Register on the portal | b. Mandatory details for register and filing complaints - Name, PAN, Address, Mobile Number, E-mail ID | c. Benefits: i. Effective Communication ii. Speedy redressal of the grievances | d. Complaints against the companies shall be subject to the SMARTODR/SCORES guidelines

GoldenPi Securities Pvt Ltd (“GSPL”) | SEBI Registration No.: INZ000310732 | BSE Member ID : 6809

Compliance Officer: Ekta Sheth, Tel. No.: 080-45685666, Email ID: grievance-gspl@goldenpi.com (for any compliance & grievance related complaints)

Directors: Abhijit Roy, Samir Baran Pratihar, Naveen Subbarao | Email: contact-us@goldenpi.com

Cashflow Timeline

Timeline

Total Receivable*

Net Receivable**

2025

₹ 904.11

₹ 813.7

26 Dec

Interest

₹ 904.11

Interest

₹ 813.7

2026

₹ 60,547.95

₹ 59,493.15

2027

₹ 50,467.12

₹ 50,420.41

* The interest amount is paid as per total invested face value (₹ 100000) and annual coupon rate of 11%. When the bond enters the staggered maturity cycle, it will be calculated based on the outstanding face value.

** The net interest receivable is after 10% TDS for Indian Residents. However for NRI 30% TDS is deducted. The deducted TDS can be claimed while filing ITR.

Highlights

Company Financials

Ratio Analysis

About Issuer