Midland Microfin Limited

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INE884Q07798 - Bond Details

Returns (YTM)

N/A

Min. Investment

N/A

Tenure

8M - 16M

Payment Terms

Monthly

Highlights

Credit Rating

ACUITE A-/NEGATIVE

Seniority

SENIOR

Security

Secured

Default History

Zero

Issue Size

100 CR

Security Cover

1.1x

Strong Investor Support - Backed by distinguished set of institutional private equity and venture capital investors, including ICICI Bank, Kitara Capital and SIDBI who have demonstrated commitment through consistent equity infusions with cumulative equity infusion of INR 180 Crs in FY’25 and FY’26.

Comfortable Capitalisation - As on Sep’25, Midland’s net worth is INR 646 Crs with comfortable leverage of 3.5x and CRAR of 33.37%, well above the RBI's 15% minimum requirement.

Established presence in core areas of operations - Midland has a strong presence in its network of 517 branches across 12 states & 2 Union territories in India with 9,00,000 + customers

Company Financials

AUM

PAT

Net Worth

Cash & Cash Eq.

Important disclaimer

Ratio Analysis

0.4

Net NPA

Good

Benchmark: Lower than 3%

2.94

Gross NPA

Good

Benchmark: Lower than 5%

33.37

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

3.55

Debt to Equity Ratio

Good

Benchmark: Maximum 12 times

Important disclaimer

About Issuer

Incorporated in 2011, Midland Microfin Limited (“Midland”) is an Acuite A- (stable) rated non-deposit-taking, systemically important NBFC-MFI that focuses on serving India’s small income-generating individuals by providing microcredit to women borrowers through a joint group liability (JLG) model.

Midland is backed by marquee equity investors, including ICICI Bank, Kitara Capital, and SIDBI, among others. In FY’26, the company successfully raised equity capital amounting to INR 113 crore from equity investors and promoters.

As of Sep’25, Midland had an AUM of INR 2430 Crs. with networth of INR 646 Crs and CRAR of 33.37%

Total Annual Revenue

Rs 636.45 Cr (FY- 2025)

Year of Inception

1988

Industry

Corporate

Head Office

Punjab

Type of Issuer

Corporate

Current MD/CEO

Mr. Amardeep Singh Samra

Credit Rating / Outlook

A- NEGATIVE

ACUITE

Rating Rationale

Rating Date: 22-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.
Negative Outlook indicates a higher likelihood of a rating downgrade, signaling potential weaknesses or adverse events that could weaken the issuer's credit position.

Other Important Details & Disclosures

Issuer Name

Midland Microfin Limited

Security Name

10.75% Midland Microfin Limited Secured Rated Listed NCD Maturity 30-Sep-2027

ISIN

Copy

INE884Q07798

Face Value

₹ 1,00,000

Issued FV

₹ 1,00,000

Coupon Rate

10.75%

Coupon Type

FIXED

Payment Terms

Monthly

Maturity Date

30-Sep-2027

Clean Price

₹ 98.5

Dirty Price

Current Yield

10.9133%

Yield to Maturity

12.65%

Mode of Issue

Private Placement

Date of Issue

30-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

Skyline Financials Services Private Limited

Skyline Financial Services (P) Ltd.D-153A, 1st Floor, Okhla Industrial Area, Phase -I, New Delhi - 110 020

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: Skyline Financials Services Private Limited Skyline Financial Services (P) Ltd.D-153A, 1st Floor, Okhla Industrial Area, Phase -I, New Delhi - 110 020

This bond is
currently out of stock

Download Cashflow

FAQs about MIDLAND MICROFIN bonds

How to buy this MIDLAND MICROFIN bond online?

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What is the yield of this MIDLAND MICROFIN bond?

undefined% is the current yield of this MIDLAND MICROFIN 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 MIDLAND MICROFIN bond is undefined%, 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 MIDLAND MICROFIN bond?

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

Is this MIDLAND MICROFIN bond tax-free?

No, this MIDLAND MICROFIN 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 MIDLAND MICROFIN bond before the maturity date?

Yes, it is possible to sell this MIDLAND MICROFIN 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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MIDLAND MICROFIN

MIDLAND MICROFIN

INE884Q07798 - Bond Details

Highlights

Company Financials

Ratio Analysis

About Issuer