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National Highways Authority of India 7.26% Aug 2038 NCD (INE906B07IY8)

CRISIL AAA / Stable Secured NCD

National Highways Authority of India

Secured, Rated, Taxable, Redeemable NCD

Browse: AAA rated bonds · bonds maturing in 2038

60 more bonds from National Highways Authority of India →
Current YTM
8.20%
Market YTM
Coupon Rate
7.26%
Per annum
Maturity Date
10 Aug 2038
11.8 Yrs to Maturity
Interest Payment
Annual
Frequency
Face Value
₹10,00,000
Per Bond

Market Position

YTM (Annual)
8.20%
Last traded 5 Nov 2026 (end of day)
10Y G-Sec Benchmark
7.19%
Reference point, not this bond's tenor
Spread over G-Sec
+95 bps
vs 11.8Y G-Sec at 7.25%
Below the median spread for similar-tenor peers
Tenure
11.8 Years
Remaining to maturity

Price vs Yield

— Price (Clean) — Yield (YTM)
29 Jul 20265 Nov 2026

Showing last 10 trades.

Price data as a table: Recent Market Prices

Cashflow Timeline

10 Aug 2027
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
10 Aug 2028
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
10 Aug 2029
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
10 Aug 2030
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
10 Aug 2031
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
10 Aug 2032
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
10 Aug 2033
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
10 Aug 2034
Interest Payment
₹72,600.00 / Bond
₹65,340.00 net of 10% TDS (est.)
…
+3 more coupons until 10 Aug 2037
₹72,600.00 each / Bond
10 Aug 2038
Final coupon + principal
₹10,72,600.00 / Bond
₹72,600.00 coupon + ₹10,00,000 face value

12 coupons remaining, the last paid with principal at maturity · per ₹10,00,000 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 10 Aug 2021 Matures 10 Aug 2038

Key Metrics

Coupon Rate
7.26%
YTM (Annual)
8.20%
Credit Rating
AAA
(CRISIL) · rated 31 Aug 2021, 5 years ago
Over 15 months old; see below
Remaining Tenure
11.8 Years

AAA (CRISIL): Rated 31 Aug 2021 (5 years ago) — no review in the last 15 months that our sources show; the agency may have reviewed it since.

Advanced metrics
Modified Duration
7.40 Yrs
Macaulay Duration
8.01 Yrs
Issue Size
₹6,000 Cr
Minimum Investment
₹10,00,000
1 bond × ₹10,00,000 face value (BSE market lot)

Market Characteristics

Modified Duration
7.40 Yrs
Price sensitivity per 1% yield move
Payment Frequency
Annual
Last Trade
5 Nov 2026
NSE OTC (WAP)
Trades (30 Days)
1
Exchange-reported sessions
Security Status
Secured
No call option

Observations

  • This bond is secured.
  • 1 secondary-market trade recorded in the last 30 days.
  • Coupon is 2.94 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 8 Nov 2026
Instrument Type
NCD
Issue Date
10 Aug 2021
Day Count Convention
ACT/ACT
Listed Exchange
BSE
Call / Put Option
None disclosed

Issued by National Highways Authority of India, National Highways Authority of India 7.26% Aug 2038 NCD is a secured, rated NCD. It pays a 7.26% p.a. coupon, annually. Principal is repaid at maturity.

Issuer health card · ratings, payment record, defaults, trading, filings 1 item to look at →
Alert me about National Highways Authority of India 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 INE906B07IY8: trade date, clean price, YTM and number of trades
Trade DateClean PriceYTM (%)Trades
2026-11-05 92.9781 8.2000 1
2026-09-03 99.6431 7.3242 —
2026-08-06 99.4600 7.3200 1
2026-08-03 99.2000 7.3600 1
2026-07-29 94.0900 8.0400 1

Data Coverage

DatasetRecordsDetailFreshness
Credit Ratings 1 CRISIL 2021-08-31
Rating Actions History 0 — —
Secondary-Market Trades 5 NSE OTC (WAP) 2026-11-05
Reg52(4) Payment Disclosures 0 — —

Documents

Entity metadata
Source
BSE
Last Updated
8 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)
₹9,29,781.00
YTM8.20%
Trade Date 5 Nov 2026 3d ago
SourceNSE OTC (WAP)
Accrued interest (est.)₹18,100.27
Dirty price (est.)₹9,47,881.27
View on BSE → Calculate YTM for this bond
Bond Snapshot
ISIN
INE906B07IY8
Issue Date
10 Aug 2021
Maturity Date
10 Aug 2038
Listing
BSE
Payment Frequency
Annual
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 National Highways Authority of India 7.26% Aug 2038 NCD?

National Highways Authority of India 7.26% Aug 2038 NCD carries a coupon of 7.26%, paid annual, on a face value of ₹10,00,000.

When does National Highways Authority of India 7.26% Aug 2038 NCD mature?

National Highways Authority of India 7.26% Aug 2038 NCD matures on 10 Aug 2038, 11.8 years from today.

What is National Highways Authority of India 7.26% Aug 2038 NCD rated?

National Highways Authority of India 7.26% Aug 2038 NCD is rated AAA by CRISIL (rating dated 31 Aug 2021).

Is National Highways Authority of India 7.26% Aug 2038 NCD secured?

National Highways Authority of India 7.26% Aug 2038 NCD is a secured bond.

Where does National Highways Authority of India 7.26% Aug 2038 NCD trade?

National Highways Authority of India 7.26% Aug 2038 NCD is listed on BSE.

What yield does National Highways Authority of India 7.26% Aug 2038 NCD currently offer?

The last recorded trade on 5 Nov 2026 priced National Highways Authority of India 7.26% Aug 2038 NCD at ₹9,29,781.00 per bond, implying a yield to maturity of 8.20%.

More Bonds from This Issuer

N
National Highways Authority of India 5.00% Nov 2026 NCD
INE906B07IT8
AAA NSDL record, 2021
Coupon
5.00%
Maturity
30 Nov 2026
N
National Highways Authority of India 5.00% Dec 2026 NCD
INE906B07IU6
AAA NSDL record, 2021
Coupon
5.00%
Maturity
31 Dec 2026
N
National Highways Authority of India 8.30% Jan 2027 NCD
INE906B07CB9
AAA NSDL record, 2011 Reg52 disclosed
Coupon
8.30%
Maturity
25 Jan 2027
N
National Highways Authority of India 5.00% Jan 2027 NCD
INE906B07IV4
AAA NSDL record, 2021
Coupon
5.00%
Maturity
31 Jan 2027
Compare (/) Compare Bonds

Comparable NCDs maturing near 2038

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 7.26%. For comparison only, not a recommendation.

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INE134E08NB7Power Finance Corporation LimitedAAA7.32%2039-07-15
INE062A08421State Bank of IndiaAAA NSDL record, 20247.36%2039-06-27
INE062A08439State Bank of IndiaAAA7.36%2039-07-11
INE787H08113India Infrastructure Finance Company LimitedAAA7.41%2039-06-26
INE062A08389State Bank of IndiaAAA7.54%2038-08-01
INE134E08LV9Power Finance Corporation LimitedAAA7.65%2037-11-13

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