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Instrument Details

ISIN: INE884Q07665

Face value

₹10,00,000

Coupon rate

11.20%

Payment

Quarterly

Tax Type

Taxable

Issue Size (Cr)

30

Instrument Type

Debenture

Returns

High

Date of Issue

01 Jul 2022

Maturity Date

30 Jun 2024

Perpetual

Yes

Listing Status

Listed

Rating status

A- (Acuite Ratings)

Call Option

Not Available

Put Option

Available

Security with Collaterals

Secured

Asset Coverage

Principal

Seniority in Repayment

Senior

Guarantee Type

Non Convertible

About this Bond

MIDLAND MICROFIN LIMITED 11.20 NCD 30JU24 FVRS10LAC
Midland Microfin Limited, a Non-Banking Financial Company (NBFC) company, has floated Debenture, having ISIN value as INE884Q07665, with a face value of ₹10,00,000 rs on 01Jul22 to raise 30 crores. The debt instrument is issued with a coupon rate of 11.20% and its interest is paid Quarterly. 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 11.20% SECURED RATED LISTED NON CONVERTIBLE DEBENTURE. DATE OF MATURITY 30/06/2024.. This instrument is issued in Private Placement (non-EBP) mode. It has Simple coupon type with Partial Redemption By Face Value option. The Debenture is listed on BSE stock exchange on 06Jul22. Acuite Ratings And Research Limited has given A- rating to this Debenture on 05Aug22. 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.

Rating (Debt Quality)

Instrument Rating
A
Adequate Safety
A-
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Date Verified
25 Apr 2024
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Outlook
Stable
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Seniority in Repayment
Senior
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Security
Secured
Investment Calculation (Pre-Tax)

Below is an indicative cash-flow on investment, actual cash-flow may differ.

Face Value
₹10,00,000
Lot Size
100
Minimum Investment
₹10,00,00,000

Cashflow

₹10,00,00,000
01-Jul-22 : Your investment
₹28,00,000
01-Oct-22 : Interest
₹28,00,000
01-Jan-23 : Interest
₹28,00,000
01-Apr-23 : Interest
₹28,00,000
01-Jul-23 : Interest
₹28,00,000
01-Oct-23 : Interest
₹28,00,000
01-Jan-24 : Interest
₹28,00,000
01-Apr-24 : Interest
₹10,11,111
30-Jun-24 : Interest
₹12,06,11,111
30-Jun-24 : Maturity amount (Investment: ₹10,00,00,000, Interest earned: ₹2,06,11,111)

Summary

Instrument Attributes

Value

Coupon Rate

11.20%

Returns

High

Bond Rating

A-

Seniority in Repayment

Senior

Instrument Category

Non Convertible

About the issuer

Basic Industry
BASIC INDUSTRY
Non-Banking Financial Company (NBFC)
Head Office
HEAD OFFICE
Jalandhar
Sector name
SECTOR
Financial Services
Issuer ownership
ISSUER OWNERSHIP
Private Sector

FAQs about INE884Q07665 issued by Midland Microfin Limited

The instrument name of INE884Q07665 ISIN is MIDLAND MICROFIN LIMITED 11.20 NCD 30JU24 FVRS10LAC.
The interest earned from INE884Q07665 bond issued by Midland Microfin Limited is paid Quarterly, ensuring regular and consistent income for investors.
This INE884Q07665 bond issued by Midland Microfin Limited has been assigned a credit rating of A- by Acuite Ratings And Research Limited, directly indicating the issuer's creditworthiness and the probability of default.
This Debenture offers a coupon rate of 11.2%, which determines the periodic interest payments made to bondholders.
The INE884Q07665 Debenture is issued by Midland Microfin Limited, a Private Sector company.
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