Fixed Alpha
BBB

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.

Finkurve Financial Services Limited

INE734I07115· Listed on BSE

12.53%

Yield

Tenure

1Y 9M 0D

Maturity Date

16 Jun 2028

Coupon Frequency

Quarterly

Face Value

₹10,000

Nature

Secured

Coupon Rate

11.33%

About the Issuer

FFSL is an RBI-registered non-deposit-taking NBFC operating under the Arvog brand. Originally incorporated as Sanjay Leasing Limited in 1984 and granted an NBFC licence in 1998, the company was acquired by Mr. Ketan Kothari in 2010, commenced retail lending operations in 2019, and entered the gold loan business in October 2020. As of December 31, 2025, the promoter group held a 56.25% equity stake. The company primarily offers gold loans and personal loans across Tier II and Tier III cities in Telangana, Andhra Pradesh, Karnataka, and Tamil Nadu. FFSL is promoted by Mr. Ketan Kothari, a third-generation bullion trader and promoter of the Augmont Group, one of India's leading precious metals ecosystems spanning refining, trading, and digital gold platforms. Although FFSL does not have a direct parent-subsidiary relationship with the Augmont Group, both entities share the same promoter family, providing strong industry expertise and strategic support. The company is led by an experienced management team headed by CEO Mr. Naveen Kotalla and CFO Mr. Aakash Jain, supported by seasoned professionals across key functions.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Sep '26Coupon

₹286

Dec '26Coupon

₹282

Mar '27Coupon

₹282

Jun '27Coupon

₹282

Sep '27Coupon

₹286

Dec '27Coupon

₹286

Mar '28Coupon

₹279

Jun '28Coupon+Principal

₹10,285

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 17-Sep-2026

How to invest in this bond

Finkurve 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.INE734I07115If that does not work, try its BSE scrip code:BSE977877
  2. Enter the quantity required.
  3. Enter following Price:₹9,900.48This is the Price at which you will earn Fixed Returns (Yield) of 12.53% 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.