Mahaveer Finance India Limited

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Returns

12%

Min. Investment

₹ 10,148.71

Remaining Tenure

3Y 4M 3Days

Payment Terms

Quarterly

Highlights

Credit Rating

CARE BBB+/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Security Cover

1.1x

Experienced Promoters : Strong promoter pedigree with over 35 years of experience in vehicle financing, driving consistent growth through deep expertise in underwriting, collections, and customer relationships.

Adequate Capitalisation : Strong capitalisation profile with over INR 295Cr of equity infused since FY2019, driving net worth to INR 418Cr, CRAR to 37%, and reducing gearing to 2.2x as of March 2026.

Stable profitability : Stable profitability profile with ROAA consistently maintained at ~3% over the last six years, supported by healthy Net interest margins of ~11%, controlled credit costs below 1%, and PAT of INR 30Cr in FY2026.

Company Financials

AUM

Net Worth

PAT

Cash & Cash Eq.

Important disclaimer

Ratio Analysis

3.38

Net NPA

Good

Benchmark: Lower than 4%

4.69

Gross NPA

Good

Benchmark: Lower than 6%

25.12

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

3.53

Debt to Equity Ratio

Good

Benchmark: Lower than 6 times

Important disclaimer

About Issuer

Mahaveer Finance India Limited (“MFL”) was incorporated on 5 Jan, 1981, is a CRISIL BBB+ rated company. It is a systematically important, non-deposit taking NBFC registered with RBI.

MFL focuses on providing retail finance for used commercial vehicles. Its current focus mainly on the financing of used commercial and passenger vehicles. It has private equity investors including Banyan Tree Growth Capital, First Bridge India Growth Fund, and Elevation Capital.

AUM grew from ~INR 1,007Cr in FY2025 to ~INR 1,324Cr in FY2026 with PAT of INR 30Cr. Company operates mainly across Tamil Nadu and Andhra Pradesh, followed by Telangana, Karnataka, and Puducherry, supported by a network of 107 branches.

Total Annual Revenue

210 CR (FY - 26)

Year of Inception

1981

Industry

NBFC Retail

Head Office

K.G.PLAZA , 3RD FLOOR 41-44 GENERAL PATTERS ROAD CHENNAI-600002

Type of Issuer

Corporate

Current MD/CEO

Deepak Dugar

Credit Rating / Outlook

BBB+ STABLE

CARE

Rating Rationale

Rating Date: 19-May-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

Mahaveer Finance India Limited

Security Name

11.2% Mahaveer Finance India Limited Secured Rated Listed NCD Maturity 26-Nov-2029

ISIN

Copy

INE911L07154

Face Value

₹ 10,000

Issued FV

₹ 10,000

Coupon Rate

11.2%

Coupon Type

FIXED

Payment Terms

Quarterly

Maturity Date

26-Nov-2029

Clean Price

₹ 99.55

Dirty Price

₹ 101.49

Current Yield

11.2502%

Yield to Maturity

12%

Mode of Issue

Private Placement

Date of Issue

26-May-2026

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Mitcon Trusteeship Services Limited

1402/1403, B-Wing, Dalamal Towers,14th Floor, Free Press Journal Marg, 211, Nariman Point, Mumbai – 400021, Maharashtra, India

Registrar Details

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

1402/1403, B-Wing, Dalamal Towers,14th Floor, Free Press Journal Marg, 211, Nariman Point, Mumbai – 400021, Maharashtra, India

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.) 1402/1403, B-Wing, Dalamal Towers,14th Floor, Free Press Journal Marg, 211, Nariman Point, Mumbai – 400021, Maharashtra, India

Unit

Investment Amount

₹ 10,148.71

Total Returns

₹ 1,956.34

Total Receivable

₹ 12,105.05

Cashflow Timeline

Similar Bonds

FAQs about MAHAVEER FINANCE bonds

How to buy this MAHAVEER FINANCE bond online?

You can invest in bonds online in under 5 minutes. To buy MAHAVEER FINANCE 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 MAHAVEER FINANCE bond?

12% is the current yield of this MAHAVEER FINANCE 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 MAHAVEER FINANCE bond is 12%, 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 MAHAVEER FINANCE bond?

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

Is this MAHAVEER FINANCE bond tax-free?

No, this MAHAVEER FINANCE 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 MAHAVEER FINANCE bond before the maturity date?

Yes, it is possible to sell this MAHAVEER FINANCE 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.

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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

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Risk Disclosure & Regulatory Information

Fixed returns do not mean guaranteed or assured returns. Investments in corporate debt securities, municipal debt securities, and securitised debt instruments carry credit risk, market risk, and default risk, including delay or default in payment. Please read all offer-related documents carefully before you invest.

The online bond platform goldenpi.com is owned by GoldenPi Securities Pvt Ltd (GSPL), an OBPP and debt broker registered with SEBI. GSPL is a wholly owned subsidiary of GoldenPi Technologies Pvt Ltd (GTPL).

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

₹ 1,973.02

₹ 1,918.57

	26 Aug (Part Maturity)	Interest ₹ 282.3 + ₹ 714.29 (7.1429% of Principal)	Interest ₹ 254.07 + ₹ 714.29 (7.1429% of Principal)
	26 Nov (Part Maturity)	Interest ₹ 262.14 + ₹ 714.29 (7.1429% of Principal)	Interest ₹ 235.92 + ₹ 714.29 (7.1429% of Principal)

2027

₹ 3,696.83

₹ 3,612.86

2028

₹ 3,378.37

₹ 3,326.24

2029

₹ 3,056.83

₹ 3,036.86

* The interest amount is paid as per total invested face value (₹ 10000) and annual coupon rate of 11.2%. 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.