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.

Midland Microfin Limited

INE884Q07822· Listed on BSE

13.27%

Yield

Tenure

0Y 9M 15D

Maturity Date

30 Jun 2027

Coupon Frequency

Monthly

Face Value

₹1,00,000

Nature

Secured

Coupon Rate

11.70%

About the Issuer

Midland Microfin Limited (MML) commenced its microfinance operations in 2011 and is registered with the Reserve Bank of India as a non-bank finance company-MFI (NBFC-MFI). Headquartered in Jalandhar, Punjab, the company extends collateral-free micro loans to women from low-income households through the joint liability group (JLG) model. Over the years, MML has expanded its presence across multiple states and union territories, serving a sizeable client base through a diversified portfolio and a wide branch network. The company also engages in co-lending and off-balance sheet funding arrangements with major banks to enhance its lending capacity. Additionally, MML maintains a strong funding profile with access to multiple lenders, banks, and investors, ensuring steady liquidity and financial resilience.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Jan '26Coupon

₹1,026

Feb '26Coupon

₹898

Mar '26Coupon

₹994

Apr '26Coupon

₹962

May '26Coupon

₹994

Jun '26Coupon

₹962

Jul '26Coupon

₹994

Aug '26Coupon

₹994

Sep '26Coupon

₹962

Oct '26Coupon

₹994

Nov '26Coupon

₹962

Dec '26Coupon

₹994

Jan '27Coupon

₹994

Feb '27Coupon

₹898

Mar '27Coupon

₹994

Apr '27Coupon

₹962

May '27Coupon

₹994

Jun '27Coupon + Principal

₹1,00,962

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 16-Sep-2026

How to invest in this bond

Midland Microfin 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.INE884Q07822If that does not work, try its BSE scrip code:BSE977419
  2. Enter the quantity required.
  3. Enter following Price:₹98,939.53This is the Price at which you will earn Fixed Returns (Yield) of 13.27% 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.