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.

Indostar Capital Finance Limited

INE896L07991· Listed on BSE

10.45%

Yield

Tenure

1Y 0M 9D

Maturity Date

25 Sep 2027

Coupon Frequency

Quarterly

Face Value

₹1,000

Nature

Secured

Coupon Rate

10.30%

About the Issuer

IndoStar Capital Finance Limited, incorporated in July 2009, is a systemically important non-deposit-taking Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). The company commenced operations as a wholesale lender before diversifying into loans against property (LAP) and vehicle finance, and is currently focused on used commercial vehicle financing while gradually expanding its micro-LAP portfolio. The company was originally promoted by leading private equity investors and is currently promoted by Brookfield, which became the largest shareholder following its investment in 2020 and held a 56.20% stake as of July 2025. Everstone Group remains a significant shareholder with a 17.4% stake, providing the company with strong institutional backing. IndoStar benefits from the support of reputed global investors, an experienced management team, and an established presence in the commercial vehicle financing segment. The company has streamlined its business by divesting its housing finance subsidiary in 2025, enabling greater focus on its core lending businesses and long-term growth strategy.

Rating Rationale

Coupon ladder

Payment schedule of interest and principal

Dec '24Coupon

₹26

Mar '25Coupon

₹25

Jun '25Coupon

₹26

Sep '25Coupon

₹26

Dec '25Coupon

₹26

Mar '26Coupon

₹25

Jun '26Coupon

₹26

Sep '26Coupon

₹26

Dec '26Coupon

₹26

Mar '27Coupon

₹25

Jun '27Coupon

₹26

Sep '27Coupon+Principal

₹1,026

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 17-Sep-2026

How to invest in this bond

Indostar Capital 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.INE896L07991If that does not work, try its BSE scrip code:BSE939807
  2. Enter the quantity required.
  3. Enter following Price:₹1,000.04This is the Price at which you will earn Fixed Returns (Yield) of 10.45% 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.