ARMAN FINANCIAL SERVICES LIMITED

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.

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.

Invest Now

Search for bonds, FD or IPO

Returns (YTM)

Upto 11.76%

Min. Investment

₹ 9,969.43

Tenure

10M - 28M

Payment Terms

Quarterly

Highlights

Credit Rating

ACUITE A-/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Comfortable Capitalisation: Net worth of ₹874 crore as of March 2025, supported by promoter infusions and retained earnings, with strong capitalization reflected in CRAR of 37.34% (vs. RBI minimum 15%) and low leverage of 0.7x.

Experienced Team: Arman, founded by MD Jayendra B. Patel, has 25+ yrs of experience and a strong Management Team having a combined experience of 100+ years in the Lending Business

Improvement in scale of ops: Sizeable scale up of operations while reducing geographical concentration

Company Financials

AUM

Net Worth

PAT

Cash & Cash Eq.

Important disclaimer

Ratio Analysis

0.55

Net NPA

Good

Benchmark: Lower than 3%

37.34

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

3.38

Gross NPA

Good

Benchmark: Lower than 5%

Important disclaimer

About Issuer

Arman Financial Services Ltd. (“Arman”), incorporated in 1992, is an Acuité A- (Stable) rated, systemically important non-deposit-taking NBFC registered with RBI, offering two-wheeler, MSME, and microfinance loans.

Arman is backed by investors including Airavat and Elevation Capital and is listed on NSE and BSE with a market capitalization of ?1,706+ crore, operating through 524 branches and serving ~6,20,000 customers across 11 states.

Arman reported AUM of 1,618 crore, with a revenue of 316 crs and NNPA of 0.55% (as of Dec’ 2025).

Total Annual Revenue

874 Cr FY (2025)

Year of Inception

1992

Industry

NBFC Retail

Head Office

AHMEDABAD

Type of Issuer

Corporate

Current MD/CEO

Mr. Jayendra B. Patel

Credit Rating / Outlook

A- STABLE

ACUITE

Rating Rationale

Rating Date: 21-Jan-2026

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 A credit rating are considered to have an adequate degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry low credit risk.
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

ARMAN FINANCIAL SERVICES LIMITED

Security Name

11.35% ARMAN FINANCIAL SERVICES LIMITED Secured Rated Listed NCD Maturity 29-Jul-2028

ISIN

Copy

INE109C07139

Face Value

₹ 10,000

Issued FV

₹ 10,000

Coupon Rate

11.35%

Coupon Type

FIXED

Payment Terms

Quarterly

Maturity Date

29-Jul-2028

Clean Price

₹ 100.13

Dirty Price

₹ 99.63

Current Yield

11.3353%

Yield to Maturity

11.7609%

Mode of Issue

Private Placement

Date of Issue

29-Jan-2026

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Vardhaman Trusteeship Private Limited

Unit No. 412, The Capital,C-70 G Block, Bandra Kurla Complex,Bandra East, Audit Bhavan, Mumbai,Bandra, Maharashtra, India, 400051

Registrar Details

Bigshare Services Pvt. Ltd

A-802, Samudra Complex, Off C.G. Road, Navrangpura, Near Girish Cold Drink, Ahmedabad 380009 Gujarat

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: Bigshare Services Pvt. Ltd A-802, Samudra Complex, Off C.G. Road, Navrangpura, Near Girish Cold Drink, Ahmedabad 380009 Gujarat

Unit

Select Tenure

Invest in this tenure with Early Sell option.

Investment Amount

₹ 9,963.22

Total Returns

₹ 891.92

Total Receivable

₹ 10,855.14

Cashflow Timeline

Similar Bonds

TAPIR CONSTRUCTIONS LIMITED

Min Investment

₹ 1,01,153.2

Returns

13%

Payout

Monthly

Credit Rating

A-/IVR

MIDLAND MICROFIN LIMITED

Min Investment

₹ 98,723.23

Returns

Upto 12.75%

Payout

Monthly

Credit Rating

A-/ACUITE

INDEL MONEY LIMITED

Min Investment

₹ 99,237.4

Returns

11.8%

Payout

Monthly

Credit Rating

A-/IVR

NAMRA FINANCE LIMITED

Min Investment

₹ 1,01,454.97

Returns

11.5%

Payout

Quarterly

Credit Rating

A-/ACUITE

SATIN CREDITCARE NETWORK LIMITED

Min Investment

₹ 29,464.96

Returns

Upto 11.4%

Payout

Monthly

Credit Rating

A/ICRA

FAQs about ARMAN FINANCIAL SERVICES LIMITED bonds

How to buy this ARMAN FINANCIAL SERVICES LIMITED bond online?

You can invest in bonds online in under 5 minutes. To buy ARMAN FINANCIAL SERVICES 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 ARMAN FINANCIAL SERVICES LIMITED bond?

11.7609% is the current yield of this ARMAN FINANCIAL SERVICES 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 ARMAN FINANCIAL SERVICES LIMITED bond is 11.7609%, 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 ARMAN FINANCIAL SERVICES LIMITED bond?

To redeem this ARMAN FINANCIAL SERVICES 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 ARMAN FINANCIAL SERVICES LIMITED bond is generally simple and straightforward. Contact our support team for more information.

Is this ARMAN FINANCIAL SERVICES LIMITED bond tax-free?

No, this ARMAN FINANCIAL SERVICES 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 ARMAN FINANCIAL SERVICES LIMITED bond before the maturity date?

Yes, it is possible to sell this ARMAN FINANCIAL SERVICES 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.

Note to Investors

GoldenPi Securities Pvt. Ltd. (“GSPL”) is a wholly owned subsidiary of GoldenPi Technologies Pvt. Ltd. (“GTPL”) and is a SEBI registered broker under BSE new debt segment allowing investors to trade in secondary bonds & debentures through exchange.

Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities, municipal debt securities/securitised debt instruments are subject to credit risks, market risks and default 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.

The FAQs on the platform are exclusively for educational information/knowledge and do not influence the investment/sale decisions of any investors.As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educative material in the form of text and videos, so as to become an informed investor. https://www.bseipf.com/investors_education.html
We believe that an educated investor is a protected investor !!!

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.

We understand that certain investment advisors may be approaching members of the public including our clients, representing that they are our partners, or representing that their investment advice is based on our research. Please note that we have not engaged any third parties to render any investment advisory services on our behalf nor are we providing any stock recommendations/tips/research report/advisory. Persons making investments on the basis of such advice may lose all or a part of their investments along with the fee paid to such unscrupulous persons. Please be cautious about any phone call that you may receive from persons representing to be such investment advisors, or a part of research firm offering advice on securities. Do not make payments through e-mail links, WhatsApp or SMS. Please do not share your personal or financial information with any person without proper verification. Always trade through a registered broker.

We collect, retain, and use your contact information for legitimate business purposes only, to contact you and to provide you information & latest updates regarding our products & services.

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.

Attention Investors - Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month. Issued in the interest of Investors

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 | NSE Member ID: 90331

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

Key Managerial Personnel:
Abhijit Roy - Designated Director & CEO, Samir Baran Pratihar - Designated Director & CTO
Tel. No.: 080-45685666 | Email: contact-us@goldenpi.com

Cashflow Timeline for Early Sell Option

Timeline

Total Receivable*

Net Receivable**

2026

₹ 569.05

₹ 512.15

	29 Jul	Interest ₹ 282.97	Interest ₹ 254.68
	29 Oct	Interest ₹ 286.08	Interest ₹ 257.47

2027

₹ 10,286.08

₹ 10,257.47

* The interest amount is paid as per total invested face value (₹ 10000) and annual coupon rate of 11.35%.

** 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