Fixed Alpha
AA

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.

Mas Financial Services Limited

INE348L07241· Listed on BSE

10.08%

Yield

Tenure

0Y 3M 8D

Maturity Date

23 Dec 2026

Coupon Frequency

Monthly

Face Value

₹10,000

Nature

Secured

Coupon Rate

9.60%

About the Issuer

Mas Financial Services Limited (MFSL), founded in 1995, is a leading non-banking financial company (NBFC) based in India, which initially focused on two-wheeler and micro-enterprise loans before expanding into SME loans, commercial vehicle loans, salaried personal loans, and housing finance. The company operates across multiple states through a broad branch network and partnerships with NBFCs and MFIs, while its subsidiary, MAS Rural Housing and Mortgage Finance Limited, offers housing loans in rural and semi-urban areas. The promoters, Kamlesh Gandhi and the late Mukesh Gandhi, bring over two decades of experience in financial services, with Kamlesh Gandhi, as Chairman and Managing Director, driving the company's growth alongside a seasoned management team ensuring strong governance and risk management. MFSL's product range spans micro-enterprise loans, two-wheeler loans, SME loans, commercial vehicle loans, and salaried personal loans, besides housing loans offered through its subsidiary, reflecting a diversified portfolio that has driven significant growth in assets under management (AUM). MFSL benefits from robust capital adequacy, diversified resources, and an experienced leadership team, factors that together support stable liquidity, strong asset quality, and consistent growth in the competitive Indian financial market.

Coupon ladder

Payment schedule of interest and principal

Jan '25Coupon

₹82

Feb '25Coupon

₹82

Mar '25Coupon

₹74

Apr '25Coupon

₹82

May '25Coupon

₹79

Jun '25Coupon

₹82

Jul '25Coupon

₹79

Aug '25Coupon

₹82

Sep '25Coupon

₹82

Oct '25Coupon

₹79

Nov '25Coupon

₹82

Dec '25Coupon

₹79

Jan '26Coupon

₹82

Feb '26Coupon

₹82

Mar '26Coupon

₹74

Apr '26Coupon

₹82

May '26Coupon

₹79

Jun '26Coupon

₹82

Jul '26Coupon

₹79

Aug '26Coupon

₹82

Sep '26Coupon

₹82

Oct '26Coupon

₹79

Nov '26Coupon

₹82

Dec '26Coupon + Principal

₹10,079

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 16-Sep-2026

How to invest in this bond

Mas Financial Services 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.INE348L07241If that does not work, try its BSE scrip code:BSE976261
  2. Enter the quantity required.
  3. Enter following Price:₹9,980.56This is the Price at which you will earn Fixed Returns (Yield) of 10.08% 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.