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Incred Financial Services 8.60% Mar 2028 NCD (INE321N07632)

ICRA AA- Secured NCD

Incred Financial Services Limited

Secured, Rated, Taxable, Redeemable NCD

Browse: AA rated bonds · bonds maturing in 2028

38 more bonds from Incred Financial Services Limited →
Current YTM
9.26%
Market YTM
Coupon Rate
8.60%
Per annum
Maturity Date
06 Mar 2028
1.3 Yrs to Maturity
Interest Payment
Quarterly
Frequency
Face Value
₹1,00,000
Per Bond

Market Position

YTM (Annual)
9.26%
Last traded 27 Oct 2026 (end of day)
10Y G-Sec Benchmark
7.19%
Reference point, not this bond's tenor
Spread over G-Sec
+234 bps
vs 1.3Y G-Sec at 6.92%
Above the median spread for similar-tenor peers
Tenure
1.3 Years
Remaining to maturity

Price vs Yield

— Price (Clean) — Yield (YTM)
1 Oct 202627 Oct 2026

Showing last 10 trades.

Price data as a table: Recent Market Prices

Cashflow Timeline

26 Nov 2026
Interest Payment
₹2,150.00 / Bond
₹1,935.00 net of 10% TDS (est.)
26 Feb 2027
Interest Payment
₹2,150.00 / Bond
₹1,935.00 net of 10% TDS (est.)
26 May 2027
Interest Payment
₹2,150.00 / Bond
₹1,935.00 net of 10% TDS (est.)
26 Aug 2027
Interest Payment
₹2,150.00 / Bond
₹1,935.00 net of 10% TDS (est.)
26 Nov 2027
Interest Payment
₹2,150.00 / Bond
₹1,935.00 net of 10% TDS (est.)
26 Feb 2028
Interest Payment
₹2,150.00 / Bond
₹1,935.00 net of 10% TDS (est.)
6 Mar 2028
Final coupon (part period) + principal
₹1,00,215.00 / Bond
₹215.00 coupon + ₹1,00,000 face value

7 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
Today Issued 26 Feb 2026 Matures 6 Mar 2028

Key Metrics

Coupon Rate
8.60%
YTM (Annual)
9.26%
Credit Rating
AA-
(ICRA) · rated 31 Mar 2026, 7 months ago
Remaining Tenure
1.3 Years
Advanced metrics
Modified Duration
1.22 Yrs
Macaulay Duration
1.25 Yrs
Issue Size
₹200 Cr
Minimum Investment
₹1,00,000
1 bond × ₹1,00,000 face value (BSE market lot)

Market Characteristics

Modified Duration
1.22 Yrs
Price sensitivity per 1% yield move
Payment Frequency
Quarterly
Last Trade
27 Oct 2026
BSE
Trades (30 Days)
8
Exchange-reported sessions
Security Status
Secured
No call option

Observations

  • This bond is secured.
  • 8 secondary-market trades recorded in the last 30 days.
  • Coupon is 1.60 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
Instrument Type
NCD
Issue Date
26 Feb 2026
Day Count Convention
ACT/ACT
Listed Exchange
BSE
Call / Put Option
None disclosed

Issued by Incred Financial Services Limited, Incred Financial Services 8.60% Mar 2028 NCD is a secured, rated NCD. It pays an 8.60% p.a. coupon, quarterly. Principal is repaid at maturity.

Rating Action History

5 actions

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

DateAgencyActionRatingOutlookRationale
2026-10-01 CRISIL Reaffirm AA- Stable View →
2026-09-24 CRISIL Update — — View →
2026-09-24 CRISIL Update — — View →
2026-09-16 CRISIL Update — — View →
2026-07-13 CRISIL Initial AA- Stable View →
Issuer health card · ratings, payment record, defaults, trading, filings 1 item to look at →

Rating Actions on Incred Financial Services 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.

DateAgencyActionRatingRationale
2026-10-01 CRISIL Reaffirm AA- / Stable View →
2026-09-24 CRISIL Update — View →
2026-09-16 CRISIL Update — View →
2026-07-13 CRISIL Initial AA- / Stable View →
Alert me about Incred Financial Services 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 INE321N07632: trade date, clean price, YTM and number of trades
Trade DateClean PriceYTM (%)Trades
2026-10-27 99.5500 9.2600 2
2026-10-26 99.7900 9.0500 2
2026-10-23 100.3300 8.6000 1
2026-10-21 99.9500 8.9200 1
2026-10-15 95.5000 12.7400 2
2026-10-14 99.0000 9.7000 1
2026-10-12 98.8800 9.8000 1
2026-10-08 98.9900 9.7000 2
2026-10-07 99.5800 9.2200 2
2026-10-01 99.5000 9.2700 2

Data Coverage

DatasetRecordsDetailFreshness
Credit Ratings 1 ICRA 2026-03-31
Rating Actions History 5 — 2026-10-01
Secondary-Market Trades 10 BSE 2026-10-27
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.

Current Price (Clean)
₹99,550.00
YTM9.26%
Trade Date 27 Oct 2026 12d ago
SourceBSE
Accrued interest (est.)₹1,512.09
Dirty price (est.)₹1,01,062.09
View on BSE → Calculate YTM for this bond
Bond Snapshot
ISIN
INE321N07632
Issue Date
26 Feb 2026
Maturity Date
6 Mar 2028
Listing
BSE
Payment Frequency
Quarterly
Put / Call Option
None disclosed
Security
Secured
Day Count
ACT/ACT
View Term Sheet
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Frequently Asked Questions
What is the coupon rate on Incred Financial Services 8.60% Mar 2028 NCD?

Incred Financial Services 8.60% Mar 2028 NCD carries a coupon of 8.60%, paid quarterly, on a face value of ₹1,00,000.

When does Incred Financial Services 8.60% Mar 2028 NCD mature?

Incred Financial Services 8.60% Mar 2028 NCD matures on 6 Mar 2028, 1.3 years from today.

What is Incred Financial Services 8.60% Mar 2028 NCD rated?

Incred Financial Services 8.60% Mar 2028 NCD is rated AA- by ICRA (rating dated 31 Mar 2026).

Is Incred Financial Services 8.60% Mar 2028 NCD secured?

Incred Financial Services 8.60% Mar 2028 NCD is a secured bond.

Where does Incred Financial Services 8.60% Mar 2028 NCD trade?

Incred Financial Services 8.60% Mar 2028 NCD is listed on BSE.

What yield does Incred Financial Services 8.60% Mar 2028 NCD currently offer?

The last recorded trade on 27 Oct 2026 priced Incred Financial Services 8.60% Mar 2028 NCD at ₹99,550.00 per bond, implying a yield to maturity of 9.26%.

More Bonds from This Issuer

I
Incred Financial Services 9.84% Nov 2026 NCD
INE321N07376
A+ NSDL record, 2023
Coupon
9.84%
Maturity
10 Nov 2026
I
Incred Financial Services 10.30% Nov 2026 NCD
INE321N07368
A+ NSDL record, 2023
Coupon
10.30%
Maturity
10 Nov 2026
I
Incred Financial Services 9.50% Dec 2026 NCD
INE321N07483
AA-
Coupon
9.50%
Maturity
11 Dec 2026
I
Incred Financial Services 9.50% Dec 2026 NCD
INE321N07491
AA-
Coupon
9.50%
Maturity
31 Dec 2026
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Comparable NCDs maturing near 2028

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 8.60%. For comparison only, not a recommendation.

BondIssuerRatingCouponMaturity
INE01QP08016Aditya Birla Renewables LimitedAA8.60%2027-09-24
INE031A08616Housing and Urban Development Corporation LimitedAAA NSDL record, 20188.60%2028-11-12
INE530B07666IIFL Finance LimitedAA8.60%2027-03-24
INE414G07JM5Muthoot Finance LimitedAA+ NSDL record, 20258.60%2028-03-02
INE522D07CL9Manappuram Finance LimitedAA8.60%2028-03-27
INE121A07RX9Cholamandalam Investment and Finance Company LimitedAA+ NSDL record, 20248.60%2029-03-05

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