Fixed Alpha
A-

What do these ratings mean?

Credit ratings assigned by SEBI-registered agencies such as CRISIL, ICRA and CARE.

Sovereign BondsSOVEREIGN
These securities are the safest investments, backed by governments with a strong ability to meet financial obligations.
Highest SafetyAAA
Securities with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such securities carry lowest credit risk.
High SafetyAA+AAAA-
Securities with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such securities carry very low credit risk.
Adequate SafetyA+AA-
Securities with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such securities carry low credit risk.
Moderate SafetyBBB+BBBBBB-
Securities with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such securities carry moderate credit risk.
Moderate RiskBB+BBBB-
Securities with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations.
Moderate High RiskB+BB-
Securities with this rating are considered to have high risk of default regarding timely servicing of financial obligations.
Very High RiskCCC+CCCCCC-CC+CCCC-C+CC-
Securities with this rating are considered to have very high risk of default regarding timely servicing of financial obligations.
DefaultD
Securities with this rating are in default or are expected to be in default soon.

Nirmal Bang Financial Services Private Limited

INE0H8L08016

0.00%

Yield

Tenure

0Y 0M 10D

Maturity Date

03 Feb 2027

Coupon Frequency

Quarterly

Face Value

₹1,00,000

Nature

Unsecured

Coupon Rate

10.25%

About the Issuer

Established in 1994, the Nirmal Bang group offers a wide array of financial services, including equity and commodity broking, IPO financing, mutual fund distribution, research, margin funding, and loans against shares, catering to both retail and institutional clients. It is a registered member of the National Stock Exchange (cash and F&O segments) and the Bombay Stock Exchange, and functions as a depository participant with National Securities Depository Ltd and Central Depository Services (India) Ltd. The promoters, Mr Kishore Bang and Mr Dilip Bang, bring over two decades of experience in the capital markets.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Dec '25Coupon

₹2,555

Mar '26Coupon

₹2,527

Jun '26Coupon

₹2,584

Sep '26Coupon

₹2,584

Oct '26Coupon+Principal

₹1,00,842

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 23-Sep-2026

How to invest in this bond

Nirmal Bang Financial Services Private Limited

Login to your existing Equity broker (Eg. Zerodha, ICICI Direct) and purchase bonds from BSE/NSE just like equity using the following steps:

  1. Search for this specific bond. Copy its ISIN and enter in the Search bar of your broker app.INE0H8L08016If that does not work, try its BSE scrip code:BSE977075
  2. Enter the quantity required.
  3. Enter the Price.A live price isn’t available for this bond right now — the yield you earn depends on the price you pay, so check the quote in your broker app before placing the order.
  4. Fund your wallet and place the order.
  5. Once the transaction is successful, bonds will get credited to your demat account next day (T+1) like equities.
  6. Interest and Principal will get directly deposited to your bank account linked with your Demat.