KEERTANA FINSERV PRIVATE LIMITED

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Unveiling the Golden Experience, Crafted for you!

25K+ already in the waitlist

Join Now

Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

Invest Now

Unveiling the Golden Experience, Crafted for you!

25K+ already in the waitlist

Join Now

Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

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Returns (YTM)

13.49%

Min. Investment

₹ 98,115.51

Remaining Tenure

2Y 16Days

Payment Terms

Monthly

Highlights

Credit Rating

IND BBB+/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Comfortable Capitalisation - As on Dec 31, 2025, Keertana’s net worth is ~ INR 770 Crs with comfortable CRAR of 26%+.

Regular Equity Infusion by the Promoter - Promoters have demonstrated strong support and confidence in the company by regularly infusing equity (INR 150 Crs+ capital infusion in each of FY 23, FY 24 and FY 25). Promoter has recently infused INR 50 Crs in Jul’25 and INR 105 Crs in Nov’25.

Secured Gold Backed Lending - Loans backed by gold securities have been gradually increasing and account for 90%+ of the overall AUM as on Dec’25

Company Financials

AUM

Net Worth

PAT

Important disclaimer

Ratio Analysis

25.12

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

-1.98

Operating Cash Flow to Debt Ratio

Risky

Benchmark: Higher the ratio better it is.

1.57

Interest Coverage Ratio

Risky

Benchmark: Minimum 2

Important disclaimer

About Issuer

Founded in 2022, Keertana Finserv Pvt. Ltd. (“Keertana”) is a systemically important NBFC that offers secured collateral backed loans (Gold backed, LAP and Home loans) to individuals and businesses through a network of 460+ branches across 6 states, serving 2 lakh+ active customers.

Keertana is led by Ms. Padmaja Reddy, who is the founder and ex - MD of Spandana Spoorthy Finance Ltd and has 30+ years of experience in handling microfinance, gold loans, agriculture-related loans, LAP and MSME loans.

As of Dec’25, Keertana is rated Ind- Ra BBB+ (stable) and manages an AUM of ?3392 Crs with a 96% secured collateral backed portfolio.

Total Annual Revenue

Rs 484.67 Cr (FY - 2025)

Year of Inception

2021

Industry

NBFC Retail

Head Office

HYDERABAD

Type of Issuer

Corporate

Current MD/CEO

Mrs. Padmaja Reddy

Credit Rating / Outlook

BBB+ STABLE

IND

Rating Rationale

Rating Date: 20-Aug-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

KEERTANA FINSERV PRIVATE LIMITED

Security Name

11.4% KEERTANA FINSERV PRIVATE LIMITED Secured Rated Listed NCD Maturity 11-Apr-2028

ISIN

Copy

INE0NES07279

Face Value

₹ 1,00,000

Issued FV

₹ 1,00,000

Coupon Rate

11.4%

Coupon Type

FIXED

Payment Terms

Monthly

Maturity Date

11-Apr-2028

Clean Price

₹ 98.49

Dirty Price

₹ 98.12

Current Yield

11.5747%

Yield to Maturity

13.4941%

Mode of Issue

Private Placement

Date of Issue

11-Sep-2025

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Axis Trustee Services Limited

The Ruby, 2nd Floor, SW, 29, Senapati Bapat Marg, Dadar West,Mumbai- 400028

Registrar Details

MUFG Intime India Private Limited (formerly known as Link Intime Pvt Ltd.)

C 101, 247 Park, LBS Marg, Vikhroli West,Mumbai 400083

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: MUFG Intime India Private Limited (formerly known as Link Intime Pvt Ltd.) C 101, 247 Park, LBS Marg, Vikhroli West,Mumbai 400083

Unit

Investment Amount

₹ 98,115.51

Total Returns

₹ 15,666

Total Receivable

₹ 1,13,781.51

Cashflow Timeline

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FAQs about KEERTANA FINSERV PRIVATE LIMITED bonds

How to buy this KEERTANA FINSERV PRIVATE LIMITED bond online?

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

Login/signup at GoldenPi
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Pay online via payment gateway and receive bond units in your demat account

What is the yield of this KEERTANA FINSERV PRIVATE LIMITED bond?

13.4941% is the current yield of this KEERTANA FINSERV 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 KEERTANA FINSERV PRIVATE LIMITED bond is 13.4941%, 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 KEERTANA FINSERV PRIVATE LIMITED bond?

To redeem this KEERTANA FINSERV 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 KEERTANA FINSERV PRIVATE LIMITED bond is generally simple and straightforward. Contact our support team for more information.

Is this KEERTANA FINSERV PRIVATE LIMITED bond tax-free?

No, this KEERTANA FINSERV 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 KEERTANA FINSERV PRIVATE LIMITED bond before the maturity date?

Yes, it is possible to sell this KEERTANA FINSERV 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

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

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Cashflow Timeline

Timeline

Total Receivable*

Net Receivable**

2026

₹ 7,620.82

₹ 6,858.74

11 May	Interest ₹ 936.99	Interest ₹ 843.29
11 Jun	Interest ₹ 968.22	Interest ₹ 871.4
11 Jul	Interest ₹ 936.99	Interest ₹ 843.29
11 Aug	Interest ₹ 968.22	Interest ₹ 871.4
11 Sep	Interest ₹ 968.22	Interest ₹ 871.4
11 Oct	Interest ₹ 936.99	Interest ₹ 843.29
11 Nov	Interest ₹ 968.22	Interest ₹ 871.4
11 Dec	Interest ₹ 936.99	Interest ₹ 843.29

2027

₹ 1,00,970.16

₹ 1,00,373.15

2028

₹ 5,190.52

₹ 5,171.47

* The interest amount is paid as per total invested face value (₹ 100000) and annual coupon rate of 11.4%. 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