FINKURVE FINANCIAL SERVICES LIMITED

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Returns (YTM)

11.9%

Min. Investment

₹ 30,022.5

Remaining Tenure

1Y 11M 27Days

Payment Terms

Quarterly

Highlights

Credit Rating

CARE BBB+/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Strong Capitalisation: FFSL has raised INR225 crore from investors, including INR111.5 crore in H1FY26, strengthening its net worth to INR345 crore(Mar’26) and maintaining a robust CAR of 30.96%, providing strong support for future growth.

Moderate Profitability & Asset Quality: Arvog reported a PAT of INR26 crore on total revenue of INR210 crore in FY26, while maintaining a healthy RoA of 2.1% and an exceptionally low NNPA of 0.09%.

Experienced management and promotors: Backed by the experienced Kothari family and Augmont Group, Arvog benefits from strong industry expertise and seasoned leadership.

Company Financials

AUM

Net Worth

PAT

Cash & Cash Eq.

Important disclaimer

Ratio Analysis

0.9

Net NPA

Good

Benchmark: Lower than 3%

0.13

Gross NPA

Good

Benchmark: Lower than 5%

30.96

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

2.42

Debt to Equity Ratio

Good

Benchmark: Lower than 6x

Important disclaimer

About Issuer

Finkurve Financial Services Limited (“Arvog”) is a Care BBB Rated non-deposit taking NBFC which was originally established in 1984 as Sanjay Leasing Limited.

Arvog provides gold loans, personal loans to customers in the Tier II/Tier III cities mainly in Telangana, Andra Pradesh, Karnataka and Tamil Nadu. Gold loans constituted 93% of its total AUM.

It is listed on both BSE & NSE with a market cap of INR 985 crs as of June 2026. Arvog is promoted by Ketan Kothari, who has over two decades of experience in the precious metals industry and is associated with the Augmont Group, which is into bullion trading and allied activities.

Total Annual Revenue

?207.22 Cr

Year of Inception

1984

Industry

NBFC Retail

Head Office

Maharashtra

Type of Issuer

Corporate

Current MD/CEO

Naveen Kottala

Credit Rating / Outlook

BBB+ STABLE

CARE

Rating Rationale

Rating Date: 11-Jun-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 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

FINKURVE FINANCIAL SERVICES LIMITED

Security Name

11.33% FINKURVE FINANCIAL SERVICES LIMITED Secured Rated Listed NCD Maturity 16-Jun-2028

ISIN

Copy

INE734I07115

Face Value

₹ 10,000

Issued FV

₹ 10,000

Coupon Rate

11.33%

Coupon Type

FIXED

Payment Terms

Quarterly

Maturity Date

16-Jun-2028

Clean Price

₹ 99.86

Dirty Price

₹ 100.07

Current Yield

11.3461%

Yield to Maturity

11.9%

Mode of Issue

Private Placement

Date of Issue

16-Jun-2026

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Catalyst Trusteeship Limited

GDA House, Plot No. 85, Bhusari Colony (Right), Paud Road, Kothrud, Pune – 411 038

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 121 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

Units

Investment Amount

₹ 30,022.5

Total Returns

₹ 6,780.18

Total Receivable

₹ 36,802.68

Cashflow Timeline

Similar Bonds

FAQs about FINKURVE FINANCIAL bonds

How to buy this FINKURVE FINANCIAL bond online?

You can invest in bonds online in under 5 minutes. To buy FINKURVE FINANCIAL 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 FINKURVE FINANCIAL bond?

11.9% is the current yield of this FINKURVE FINANCIAL 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 FINKURVE FINANCIAL bond is 11.9%, 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 FINKURVE FINANCIAL bond?

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

Is this FINKURVE FINANCIAL bond tax-free?

No, this FINKURVE FINANCIAL 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 FINKURVE FINANCIAL bond before the maturity date?

Yes, it is possible to sell this FINKURVE FINANCIAL 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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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

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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

Timeline

Total Receivable*

Net Receivable**

2026

₹ 1,704.15

₹ 1,533.74

	16 Sep	Interest ₹ 856.74	Interest ₹ 771.07
	16 Dec	Interest ₹ 847.41	Interest ₹ 762.67

2027

₹ 3,408.3

₹ 3,067.47

2028

₹ 31,690.23

₹ 31,521.21

* The interest amount is paid as per total invested face value (₹ 30000) and annual coupon rate of 11.33%.

** 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