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.

Arman Financial Services Limited

INE109C07139· Listed on BSE

13.21%

Yield

Tenure

1Y 10M 13D

Maturity Date

29 Jul 2028

Coupon Frequency

Quarterly

Face Value

₹10,000

Nature

Secured

Coupon Rate

11.35%

About the Issuer

Arman Financial Services Limited (AFSL), established on November 26, 1992 as Arman Lease & Finance Ltd, has since developed into a publicly listed, diversified Non-Banking Finance Company with a focus on rural and semi-urban financing. The company offers a broad range of financial services, including MSME financing, vehicle financing, loans against property (LAP), and microfinance. As on December 31, 2025, AFSL's standalone portfolio comprised approximately 80% MSME loans, 16% two-wheeler loans, and 4% loans against property. The company maintains a presence across 11 states, serving approximately 1.3 lakh customers through a network of 122 branches as on December 31, 2025. Its microfinance operations are conducted through its wholly owned subsidiary, Namra Finance Limited.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Apr '26Coupon

₹280

Jul '26Coupon

₹283

Oct '26Coupon

₹286

Jan '27Coupon

₹286

Apr '27Coupon

₹280

Jul '27Coupon

₹283

Oct '27Coupon

₹286

Jan '28Coupon+Principal

₹3,285

Apr '28Coupon+Principal

₹3,198

Jul '28Coupon+Principal

₹4,113

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 17-Sep-2026

How to invest in this bond

Arman Financial Services 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.INE109C07139If that does not work, try its BSE scrip code:BSE977508
  2. Enter the quantity required.
  3. Enter following Price:₹9,970.20This is the Price at which you will earn Fixed Returns (Yield) of 13.21% if you hold the bond till maturity. If you enter a different price, then your returns will differ.
  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.