NAMRA FINANCE LIMITED

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Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

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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.

Invest Now

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Returns (YTM)

11.5%

Min. Investment

₹ 1,00,791.48

Remaining Tenure

2Y 5M 22Days

Payment Terms

Quarterly

Highlights

Credit Rating

ACUITE A-/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Strong Debt Partnership: PSU Banks (SBI, BoB, Union bank, Canara), Private Banks ( ICICI, Axis,Federal) & NBFC ( Bajaj Finance).

Strong capitalization & low leverage: Net worth of ₹610 crore in H1FY26 with high Capital adequacy (CAR) of 57.78% and low gearing of 1.22x (FY25:1.32x, FY24:2.59x).

Healthy margins & core earnings: Group level NIM remained strong at 15.11% in FY25 and improved to 15.49% in Q1 FY26; total income (net of interest) rose to ₹490.68 crore in FY25 (FY24: ₹396.06 crore).

Risk mitigation through credit guarantee coverage: ~50% of AUM covered under CGFMU (as of Jun '25), providing downside protection against credit losses.

Strengthening underwriting via BCM model: Branch Credit Manager (BCM) model implemented across ~50% of branches, enhancing decentralized credit evaluation and risk control.

Adequate liquidity : NFL maintains a +ve ALM profile with a cumulative surplus in all maturity buckets. The group has strong liquidity, holding Rs. ~329.63 Cr. in cash and cash equivalents as of March 31, 2025.

Company Financials

Revenue

PAT

Debt

Net Worth

Important disclaimer

Ratio Analysis

0.37

Net NPA

Good

Benchmark: Lower than 3%

48.37

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

1.33

Debt to Equity Ratio

Good

Benchmark: Maximum 12 times

1.05

Interest Coverage Ratio

Risky

Benchmark: Minimum 2

Important disclaimer

About Issuer

Namra Finance Limited is an NBFC-Microfinance Institution focused on providing small-ticket loans to underserved households, particularly in rural and semi-urban areas. The company primarily caters to women borrowers, offering credit solutions that support income generation, small businesses, and household needs. With a clear focus on financial inclusion, the company works at the last mile reaching customers who often have limited access to formal banking channels. Backed by Arman Financial Services Limited, Namra combines local outreach with structured processes to deliver reliable and responsible lending solutions.

Total Annual Revenue

Rs. 552.37 Cr (FY- 2025)

Year of Inception

2012

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: 05-Feb-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

NAMRA FINANCE LIMITED

Security Name

11.25% NAMRA FINANCE LIMITED Secured Rated Listed NCD Maturity 11-Sep-2028

ISIN

Copy

INE229U07178

Face Value

₹ 1,00,000

Issued FV

₹ 1,00,000

Coupon Rate

11.25%

Coupon Type

FIXED

Payment Terms

Quarterly

Maturity Date

11-Sep-2028

Clean Price

₹ 100.39

Dirty Price

₹ 100.79

Current Yield

11.2062%

Yield to Maturity

11.5%

Mode of Issue

Private Placement

Date of Issue

11-Mar-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

Office No 303, Sun Square Complex, off CG road,Navrangpura, 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 Office No 303, Sun Square Complex, off CG road,Navrangpura, Ahmedabad 380009 Gujarat

Unit

Investment Amount

₹ 1,00,791.48

Total Returns

₹ 24,827.69

Total Receivable

₹ 1,25,619.18

Cashflow Timeline

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FAQs about NAMRA FINANCE LIMITED bonds

How to buy this NAMRA FINANCE LIMITED bond online?

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What is the yield of this NAMRA FINANCE LIMITED bond?

11.5% is the current yield of this NAMRA FINANCE 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 NAMRA FINANCE LIMITED bond is 11.5%, 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 NAMRA FINANCE LIMITED bond?

To redeem this NAMRA FINANCE 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 NAMRA FINANCE LIMITED bond is generally simple and straightforward. Contact our support team for more information.

Is this NAMRA FINANCE LIMITED bond tax-free?

No, this NAMRA FINANCE 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 NAMRA FINANCE LIMITED bond before the maturity date?

Yes, it is possible to sell this NAMRA FINANCE 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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Cashflow Timeline

Timeline

Total Receivable*

Net Receivable**

2026

₹ 8,476.03

₹ 7,628.42

11 Jun	Interest ₹ 2,835.62	Interest ₹ 2,552.05
11 Sep	Interest ₹ 2,835.62	Interest ₹ 2,552.05
11 Dec	Interest ₹ 2,804.79	Interest ₹ 2,524.32

2027

₹ 11,226.84

₹ 10,104.16

2028

₹ 1,05,916.31

₹ 1,05,324.68

* The interest amount is paid as per total invested face value (₹ 100000) and annual coupon rate of 11.25%. 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