11.72% Midland Microfin Limited - BBB Rated (INE884Q07608)

Midland Microfin Limited, a Non-Banking Financial Company (NBFC) company, has floated Debenture, having ISIN value as INE884Q07608, with a face value of ₹10,00,000 rs on 26Nov20 to raise 25 crores. The debt instrument is issued with a coupon rate of 11.72% and its interest is paid Semi Annually. The returns are Taxable and one has to pay the applicable tax on the returns from this investment. As per the filings, the long description of this Secured Debenture is 11.7230% SECURED, RATED, LISTED, SENIOR TRANSFERABLE TAXABLE REDEEMABLE, NON-CONVERTIBLE DEBENTURES. DATE OF MATURITY 26/11/2023.. This instrument is issued in Private Placement mode. It has Simple coupon type with Partial Redemption By Face Value option. The Debenture is listed on BSE stock exchange on 04Dec20. CARE RATINGS LIMITED has given BBB+ rating to this Debenture on 26Nov20. This issuer is formerly known as SAJAN HIRE PURCHASE LIMITED Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.