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.

Utkarsh Small Finance Bank Limited

INE735W08053· Listed on BSE

9.55%

Yield

Tenure

2Y 9M 13D

Maturity Date

28 Jun 2031

Coupon Frequency

Quarterly

Face Value

₹1,00,000

Nature

Unsecured

Coupon Rate

11.00%

About the Issuer

Utkarsh Micro Finance Limited, incorporated in 2009, secured a small finance bank (SFB) licence from the RBI in November 2016 and completed its transition into an SFB by January 2017. Mr. Govind Singh, formerly head of micro-banking at ICICI Bank Limited, leads the institution, which now operates across numerous Indian states and Union Territories offering deposits, micro-banking loans, MSME loans, affordable housing loans, and corporate loans, among other products, with micro-banking loans forming a meaningful share of its overall lending book.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Sep '24Coupon

₹2,773

Dec '24Coupon

₹2,742

Mar '25Coupon

₹2,712

Jun '25Coupon

₹2,773

Sep '25Coupon

₹2,773

Dec '25Coupon

₹2,742

Mar '26Coupon

₹2,712

Jun '26Coupon

₹2,773

Sep '26Coupon

₹2,773

Dec '26Coupon

₹2,742

Mar '27Coupon

₹2,712

Jun '27Coupon

₹2,773

Sep '27Coupon

₹2,773

Dec '27Coupon

₹2,742

Mar '28Coupon

₹2,735

Jun '28Coupon

₹2,765

Sep '28Coupon

₹2,765

Dec '28Coupon

₹2,735

Mar '29Coupon

₹2,712

Jun '29Coupon + Principal

₹1,02,773

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 16-Sep-2026

How to invest in this bond

Utkarsh Small Finance Bank 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.INE735W08053If that does not work, try its BSE scrip code:BSE975790
  2. Enter the quantity required.
  3. Enter following Price:₹1,03,928.96This is the Price at which you will earn Fixed Returns (Yield) of 9.55% 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.