Fixed Alpha
A-

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.

Mufin Green Finance Limited

INE08KJ07175· Listed on BSE

12.14%

Yield

Tenure

0Y 11M 14D

Maturity Date

29 Aug 2027

Coupon Frequency

Monthly

Face Value

₹10,000

Nature

Secured

Coupon Rate

11.00%

About the Issuer

Mufin Green Finance Limited (MGFL) is a non-deposit-taking non-banking financial company (NBFC-ND) registered with the Reserve Bank of India, incorporated on May 13, 2016 in Rajasthan. The company was acquired by Hindon Mercantile Limited in March 2022 and now operates as part of the Mufin group, which has been financing electric vehicles since 2016; its EV loan portfolio was subsequently transferred to MGFL following the acquisition. MGFL finances the broader electric vehicle ecosystem, covering all categories of battery-powered vehicles as well as charging infrastructure, with the aim of strengthening India's EV ecosystem. The company is led by Managing Director Mr. Kapil Garg.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Jan '26Coupon

₹93

Feb '26Coupon

₹90

Mar '26Coupon

₹87

Apr '26Coupon

₹93

May '26Coupon

₹90

Jun '26Coupon

₹93

Jul '26Coupon

₹90

Aug '26Coupon

₹93

Sep '26Coupon

₹93

Oct '26Coupon

₹90

Nov '26Coupon

₹93

Dec '26Coupon

₹90

Jan '27Coupon

₹93

Feb '27Coupon

₹90

Mar '27Coupon

₹87

Apr '27Coupon + Principal

₹3,093

May '27Coupon

₹63

Jun '27Coupon + Principal

₹3,065

Jul '27Coupon

₹36

Aug '27Coupon + Principal

₹4,037

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 16-Sep-2026

How to invest in this bond

Mufin Green Finance 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.INE08KJ07175If that does not work, try its BSE scrip code:BSE977411
  2. Enter the quantity required.
  3. Enter following Price:₹9,922.12This is the Price at which you will earn Fixed Returns (Yield) of 12.14% 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.