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REC 6.81% Apr 2036 NCD (INE020B08FV8)

ICRA AAA Unsecured NCD

REC Limited

Unsecured, Rated, Taxable, Redeemable NCD

Browse: AAA rated bonds · bonds maturing in 2036

193 more bonds from REC Limited →

Current YTM

8.05%

Market YTM

Coupon Rate

6.81%

Per annum

Maturity Date

30 Apr 2036

9.5 Yrs to Maturity

Interest Payment

Annual

Frequency

Face Value

₹1,00,000

Per Bond

Market Position

YTM (Annual)

8.05%

Last traded 4 Nov 2026 (end of day)

10Y G-Sec Benchmark

7.19%

Reference point, not this bond's tenor

Spread over G-Sec

+77 bps

vs 9.5Y G-Sec at 7.28%

Below the median spread for similar-tenor peers

Tenure

9.5 Years

Remaining to maturity

Price vs Yield

— Price (Clean) — Yield (YTM)

12 Jun 20254 Nov 2026

Showing last 10 trades.

Price data as a table: Recent Market Prices

Cashflow Timeline

23 May 2027

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

23 May 2028

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

23 May 2029

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

23 May 2030

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

23 May 2031

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

23 May 2032

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

23 May 2033

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

23 May 2034

Interest Payment

₹6,810.00 / Bond

₹6,129.00 net of 10% TDS (est.)

…

+1 more coupon until 23 May 2035

₹6,810.00 each / Bond

30 Apr 2036

Final coupon (part period) + principal

₹1,06,382.05 / Bond

₹6,382.05 coupon + ₹1,00,000 face value

10 coupons remaining, the last paid with principal at maturity · per ₹1,00,000 face value · projected dates

Net amounts are estimates: 10% TDS applies to a resident with PAN once interest from one issuer reaches ₹10,000 in a financial year. Below that, or with Form 15G/15H, no TDS is deducted. Not tax advice.

Bond Timeline

— Issue / Maturity | Coupon (projected) ┊ Today

Key Metrics

Coupon Rate

6.81%

YTM (Annual)

8.05%

Credit Rating

AAA

(ICRA) · seen 28 Jun 2026

Remaining Tenure

9.5 Years

AAA (ICRA): On the NSE listing when we first checked it, 28 Jun 2026; the listing doesn't give the agency's rating date.

AAA (CARE): Rated 31 May 2025 (17 months ago) — no review in the last 15 months that our sources show; the agency may have reviewed it since.

With more than one agency, the rating shown at the top is the lowest of those dated within the last 15 months (or the newest, when none is). How we pick it →

Advanced metrics

Modified Duration

6.40 Yrs

Macaulay Duration

6.92 Yrs

Issue Size

₹2,635 Cr

Minimum Investment

₹1,00,000

1 bond × ₹1,00,000 face value (BSE market lot)

Market Characteristics

Modified Duration

6.40 Yrs

Price sensitivity per 1% yield move

Payment Frequency

Annual

Last Trade

4 Nov 2026

NSE OTC (WAP)

Trades (30 Days)

3

Exchange-reported sessions

Security Status

Unsecured

No call option

Observations

This bond is unsecured.
3 secondary-market trades recorded in the last 30 days.
Coupon is 3.39 percentage points below the median for tracked NCD bonds. (based on 20,403 tracked NCD bonds with a stated coupon)

Structured Overview

Data as of 7 Nov 2026

Issuer

REC Limited

Instrument Type

NCD

Issue Date

23 May 2025

Day Count Convention

ACT/ACT

Listed Exchange

BSE

Call / Put Option

None disclosed

Issued by REC Limited, REC 6.81% Apr 2036 NCD is an unsecured, rated NCD. It pays a 6.81% p.a. coupon, annually. Principal is repaid at maturity.

Rating Timeline

2 ratings on file

Every rating we hold for this ISIN, from every agency and source, newest first. NSE listing dates are the day we first saw the rating there, not the agency’s date.

Date	Agency	Rating	Outlook	Status	Source
seen on 28 Jun 2026	ICRA	AAA	—	Latest	NSE listing
31 May 2025	CARE	AAA	—	Latest	BSE listing

Rating Action History

2 actions

Agency actions on REC Limited and its instruments, not only this bond. Rows marked “This bond” carry this ISIN or an exchange filing that names it.

Date	Agency	Action	Rating	Outlook	Rationale
2026-10-07	CRISIL	Reaffirm	—	—	View →
2026-07-06	CRISIL	Update	—	—	View →

Issuer health card · ratings, payment record, defaults, trading, filings Nothing flagged →

Rating Actions on REC Limited

last 12 months

Agencies rate the issuer and its instruments together; an action may cover bank loans or other instruments rather than this bond. This bond marks actions that carry this ISIN or whose exchange filing names it.

Date	Agency	Action	Rating	Rationale
2026-10-07	CRISIL	Reaffirm	—	View →
2026-07-06	CRISIL	Update	—	View →

Alert me about REC Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.

Recent Market Prices

Recent BSE trades for INE020B08FV8: trade date, clean price, YTM and number of trades
Trade Date	Clean Price	YTM (%)	Trades
2026-11-04	91.8773	8.0500	—
2026-11-02	93.1130	7.8500	—
2026-10-09	92.8893	7.8800	—
2026-10-06	92.8893	7.8800	—
2026-10-01	92.8868	7.8800	—
2026-09-29	100.0000	6.8000	1
2026-08-27	94.6650	7.5960	—
2026-06-29	100.0000	6.7998	—
2025-06-12	98.7681	7.3300	500

Data Coverage

Dataset	Records	Detail	Freshness
Credit Ratings	2	CARE, ICRA	2026-06-28
Rating Actions History	2	—	2026-10-07
Secondary-Market Trades	9	NSE OTC (WAP)	2026-11-04
Reg52(4) Payment Disclosures	0	—	—

Documents

Entity metadata

Source: BSE
Last Updated: 7 Nov 2026

Risk warning: This page is for informational purposes only. Bond investments carry credit risk, interest rate risk, and liquidity risk. Credit ratings reflect agency opinion at a point in time. Nothing here constitutes investment advice or a recommendation. Verify all details against the issuer's offer document and the exchange. RetailBonds.in is not a SEBI-registered intermediary. See our full disclaimer.

₹91,877.30

YTM8.05%

Trade Date 4 Nov 2026 4d ago

SourceNSE OTC (WAP)

Accrued interest (est.)₹3,600.90

Dirty price (est.)₹95,478.20

View on BSE → Calculate YTM for this bond

Frequently Asked Questions

What is the coupon rate on REC 6.81% Apr 2036 NCD?

REC 6.81% Apr 2036 NCD carries a coupon of 6.81%, paid annual, on a face value of ₹1,00,000.

When does REC 6.81% Apr 2036 NCD mature?

REC 6.81% Apr 2036 NCD matures on 30 Apr 2036, 9.5 years from today.

What is REC 6.81% Apr 2036 NCD rated?

REC 6.81% Apr 2036 NCD is rated AAA by ICRA (rating dated 28 Jun 2026) and AAA by CARE (rating dated 31 May 2025).

Is REC 6.81% Apr 2036 NCD secured?

REC 6.81% Apr 2036 NCD is unsecured; holders rank alongside other unsecured creditors in the event of default.

Where does REC 6.81% Apr 2036 NCD trade?

REC 6.81% Apr 2036 NCD is listed on BSE.

What yield does REC 6.81% Apr 2036 NCD currently offer?

The last recorded trade on 4 Nov 2026 priced REC 6.81% Apr 2036 NCD at ₹91,877.30 per bond, implying a yield to maturity of 8.05%.

More Bonds from This Issuer

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REC 7.52% Nov 2026 NCD

INE020B08AA3

AAA NSDL record, 2016

Coupon

7.52%

Maturity

07 Nov 2026

View Details

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REC 5.00% Nov 2026 NCD

INE020B07ML7

AAA NSDL record, 2021

Coupon

5.00%

Maturity

30 Nov 2026

View Details

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REC 7.54% Dec 2026 NCD

INE020B08AC9

AAA NSDL record, 2016

Coupon

7.54%

Maturity

30 Dec 2026

View Details

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REC 5.00% Dec 2026 NCD

INE020B07MM5

AAA NSDL record, 2021

Coupon

5.00%

Maturity

31 Dec 2026

View Details

Compare (/) Compare Bonds

Comparable NCDs maturing near 2036

Active bonds from other issuers with maturity within 12 months of this one, listed first when they are in the same face-value band as this bond and traded in the last 30 days, then by closest coupon to 6.81%. For comparison only, not a recommendation.

Bond	Issuer	Rating	Coupon	Maturity
INE062A08231	State Bank of India	AAA	6.80%	2035-08-21
INE053F07CQ9	Indian Railway Finance Corporation Limited	AAA	6.73%	2035-07-06
INE206D08485	Nuclear Power Corporation of India Limited	AAA NSDL record, 2022	6.89%	2037-03-24
INE053F07CD7	Indian Railway Finance Corporation Limited	AAA	6.90%	2035-06-05
INE261F08DJ9	National Bank for Agriculture and Rural Development	AAA NSDL record, 2021	6.92%	2036-09-29
INE906B07II1	National Highways Authority of India	AAA	6.94%	2036-12-30

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