Fixed Alpha
AA-

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.

Incred Financial Services Limited

INE321N07483· Listed on BSE

8.50%

Yield

Tenure

0Y 2M 24D

Maturity Date

11 Dec 2026

Coupon Frequency

Quarterly

Face Value

₹1,00,000

Nature

Secured

Coupon Rate

9.50%

About the Issuer

InCred Financial Services Limited (IFSL), formerly KKR India Financial Services Limited (KIFSL), is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). Following the merger of the erstwhile InCred Financial Services Limited with KIFSL in FY2023, the merged entity was renamed InCred Financial Services Limited and became a wholly owned subsidiary of InCred Holdings Limited. Headquartered in Mumbai, IFSL offers a diversified range of lending products, including personal loans, education loans, school financing, loans against property (LAP), loans to financial institutions, and anchor and escrow-backed business loans. As of March 2025, the company had a presence across 18 states through a network of 140 branches.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Mar '25Coupon

₹2,368

Jun '25Coupon

₹2,368

Sep '25Coupon

₹2,368

Dec '25Coupon

₹2,368

Mar '26Coupon

₹2,368

Jun '26Coupon

₹2,368

Sep '26Coupon

₹2,368

Dec '26Coupon+Principal

₹1,02,421

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 18-Sep-2026

How to invest in this bond

Incred 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.INE321N07483If that does not work, try its BSE scrip code:BSE976230
  2. Enter the quantity required.
  3. Enter following Price:₹1,00,455.45This is the Price at which you will earn Fixed Returns (Yield) of 8.50% 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.