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.

Muthoot Mercantile Limited

INE05F407BB6· Listed on BSE

10.23%

Yield

Tenure

2Y 3M 6D

Maturity Date

21 Dec 2028

Coupon Frequency

Monthly

Face Value

₹1,000

Nature

Secured

Coupon Rate

10.50%

About the Issuer

Incorporated in 1997, Muthoot Mercantile is a Kerala-based non-deposit-taking NBFC that obtained its Certificate of Registration from the Reserve Bank of India in December 2002. The company operates in the gold loan business through 325 branches spread across 12 states, with assets under management of Rs 1,306 crore as of March 2026. The company is promoted by Mathew Mathaininan and his son, Richi Mathew. Mathew Mathaininan is the only son of the late M. Ninan Muthoot, who founded a chit fund scheme in 1939 under the trade name 'Muthoot.' He currently chairs the Muthoot Ninan Group of Companies and brings over 60 years of experience in the lending business. Richi Mathew, Managing Director of Muthoot Mercantile, has more than 20 years of experience in the gold loan segment.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Jan '24Coupon

₹12

Feb '24Coupon

₹8

Mar '24Coupon

₹9

Apr '24Coupon

₹9

May '24Coupon

₹9

Jun '24Coupon

₹9

Jul '24Coupon

₹9

Aug '24Coupon

₹9

Sep '24Coupon

₹9

Oct '24Coupon

₹9

Nov '24Coupon

₹9

Dec '24Coupon

₹9

Jan '25Coupon

₹9

Feb '25Coupon

₹8

Mar '25Coupon

₹9

Apr '25Coupon

₹9

May '25Coupon

₹9

Jun '25Coupon

₹9

Jul '25Coupon

₹9

Aug '25Coupon

₹9

Sep '25Coupon

₹9

Oct '25Coupon

₹9

Nov '25Coupon

₹9

Dec '25Coupon

₹9

Jan '26Coupon

₹9

Feb '26Coupon

₹8

Mar '26Coupon

₹9

Apr '26Coupon

₹9

May '26Coupon

₹9

Jun '26Coupon

₹9

Jul '26Coupon

₹9

Aug '26Coupon

₹9

Sep '26Coupon

₹9

Oct '26Coupon

₹9

Nov '26Coupon

₹9

Dec '26Coupon

₹9

Jan '27Coupon

₹9

Feb '27Coupon

₹8

Mar '27Coupon

₹9

Apr '27Coupon

₹9

May '27Coupon

₹9

Jun '27Coupon

₹9

Jul '27Coupon

₹9

Aug '27Coupon

₹9

Sep '27Coupon

₹9

Oct '27Coupon

₹9

Nov '27Coupon

₹9

Dec '27Coupon

₹9

Jan '28Coupon

₹9

Feb '28Coupon

₹8

Mar '28Coupon

₹9

Apr '28Coupon

₹9

May '28Coupon

₹9

Jun '28Coupon

₹9

Jul '28Coupon

₹9

Aug '28Coupon

₹9

Sep '28Coupon

₹9

Oct '28Coupon

₹9

Nov '28Coupon

₹9

Dec '28Coupon + Principal

₹1,006

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 16-Sep-2026

How to invest in this bond

Muthoot Mercantile 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.INE05F407BB6If that does not work, try its BSE scrip code:BSE939090
  2. Enter the quantity required.
  3. Enter following Price:₹1,010.36This is the Price at which you will earn Fixed Returns (Yield) of 10.23% 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.