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Instrument Details

ISIN: INE884Q08200

Face value

₹10,000

Coupon rate

9.50%

Payment

Quarterly

Tax Type

Taxable

Issue Size (Cr)

20

Instrument Type

Debenture

Returns

High

Date of Issue

02 Jul 2021

Maturity Date

07 Jan 2028

Perpetual

Yes

Listing Status

Unlisted

Rating status

A- (Acuite Ratings)

Call Option

Not Available

Put Option

Not Available

Security with Collaterals

Unsecured

Asset Coverage

-

Seniority in Repayment

Subordinate Tier 2

Guarantee Type

Non Convertible

About this Bond

MIDLAND MICROFIN LIMITED SR VI 9.50 NCD 01JL28 FVRS10000
Midland Microfin Limited, a Non-Banking Financial Company (NBFC) company, has floated Debenture, having ISIN value as INE884Q08200, with a face value of ₹10,000 rs on 02Jul21 to raise 20 crores. The debt instrument is issued with a coupon rate of 9.50% 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 Unsecured Debenture is 9.5% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VI. DATE OF MATURITY 01/07/2028. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Bond is Not listed on any stock exchange. Acuite Ratings And Research Limited has given A- rating to this Debenture on 24Apr24. 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
12 Jun 2024
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Outlook
Stable
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Seniority in Repayment
Subordinate Tier 2
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Security
Unsecured
Investment Calculation (Pre-Tax)

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

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

Cashflow

₹10,00,000
02-Jul-21 : Your investment
₹23,750
02-Oct-21 : Interest
₹23,750
02-Jan-22 : Interest
₹23,750
02-Apr-22 : Interest
₹23,750
02-Jul-22 : Interest
₹23,750
02-Oct-22 : Interest
₹23,750
02-Jan-23 : Interest
₹23,750
02-Apr-23 : Interest
₹23,750
02-Jul-23 : Interest
₹23,750
02-Oct-23 : Interest
₹23,750
02-Jan-24 : Interest
₹23,750
02-Apr-24 : Interest
₹23,750
02-Jul-24 : Interest
₹23,750
02-Oct-24 : Interest
₹23,750
02-Jan-25 : Interest
₹23,750
02-Apr-25 : Interest
₹23,750
02-Jul-25 : Interest
₹23,750
02-Oct-25 : Interest
₹23,750
02-Jan-26 : Interest
₹23,750
02-Apr-26 : Interest
₹23,750
02-Jul-26 : Interest
₹23,750
02-Oct-26 : Interest
₹23,750
02-Jan-27 : Interest
₹23,750
02-Apr-27 : Interest
₹23,750
02-Jul-27 : Interest
₹23,750
02-Oct-27 : Interest
₹23,750
02-Jan-28 : Interest
₹16,17,500
07-Jan-28 : Maturity amount (Investment: ₹10,00,000, Interest earned: ₹6,17,500)

Summary

Instrument Attributes

Value

Coupon Rate

9.50%

Returns

High

Bond Rating

A-

Seniority in Repayment

Subordinate Tier 2

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 INE884Q08200 issued by Midland Microfin Limited

The instrument name of INE884Q08200 ISIN is MIDLAND MICROFIN LIMITED SR VI 9.50 NCD 01JL28 FVRS10000.
The interest earned from INE884Q08200 bond issued by Midland Microfin Limited is paid Quarterly, ensuring regular and consistent income for investors.
This INE884Q08200 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 9.5%, which determines the periodic interest payments made to bondholders.
The INE884Q08200 Debenture is issued by Midland Microfin Limited, a Private Sector company.
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