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Bonds Maturing in 2038

71 rated or traded Indian bonds from 43 distinct issuers mature during 2038, with an average coupon of 7.72%. Maturity dates are as filed with the exchanges and NSDL.

Distinct Issuers
43
Secured
37%
Coupon Range
6.50% – 9.65%
Top Instrument Types
NCD (43), SDL (28)
Bonds Maturing in 2038 71
Bond Issuer Coupon Maturity Rating
Madhya Pradesh 7.17% Jan 2038 SDL Madhya Pradesh 7.17% 2038-01-01 —
Punjab 7.79% Jan 2038 SDL Punjab 7.79% 2038-01-03 —
Goa 7.64% Jan 2038 SDL Goa 7.64% 2038-01-04 —
Karnataka 7.71% Jan 2038 SDL Karnataka 7.71% 2038-01-10 —
State Bank of India 7.70% Jan 2038 NCD State Bank of India 7.70% 2038-01-19 AAA ICRA, 3 years ago
Infrastructure Leasing & Financial Services 9.30% Jan 2038 NCD Infrastructure Leasing & Financial Services Limited 9.30% 2038-01-24 AAA NSDL record, 2011
Capital Infra Trust 7.75% Jan 2038 NCD Reg52 Capital Infra Trust 7.75% 2038-01-29 AAA CRISIL, 74 days ago
Capital Infra Trust 7.60% Jan 2038 NCD Reg52 Capital Infra Trust 7.60% 2038-01-29 AAA CRISIL, 74 days ago
Rajasthan 7.73% Feb 2038 SDL Rajasthan 7.73% 2038-02-01 —
Andhra Pradesh 7.45% Feb 2038 SDL Andhra Pradesh 7.45% 2038-02-14 —
National Bank for Agriculture and Rural Development 7.70% Feb 2038 NCD National Bank for Agriculture and Rural Development 7.70% 2038-02-17 AAA NSDL record, 2023
NHPC 7.59% Feb 2038 NCD NHPC Limited 7.59% 2038-02-20 AAA NSDL record, 2023
NHPC 7.29% Feb 2038 NCD NHPC Limited 7.29% 2038-02-26 AAA India Ratings, 7 months ago
NTT Global Data Centers & Cloud Infrastructure India 7.37% Mar 2038 NCD NTT Global Data Centers & Cloud Infrastructure India Private Limited 7.37% 2038-03-01 AA+ NSDL record, 2026
Power Finance Corporation 7.82% Mar 2038 NCD Power Finance Corporation Limited 7.82% 2038-03-06 AAA CARE, 7 months ago
IndInfravit Trust 6.50% Mar 2038 NCD IndInfravit Trust 6.50% 2038-03-09 AAA CRISIL, 5 years ago
Karnataka 7.24% Mar 2038 SDL Karnataka 7.24% 2038-03-10 —
Mizoram 7.74% Mar 2038 SDL Mizoram 7.74% 2038-03-15 —
Hyderabad Metropolitan Development Authority 8.70% Mar 2038 NCD Reg52 Hyderabad Metropolitan Development Authority 8.70% 2038-03-15 AA+ NSDL record, 2026
Nuclear Power Corporation of India 7.70% Mar 2038 NCD Nuclear Power Corporation of India Limited 7.70% 2038-03-20 AAA NSDL record, 2026
National Bank for Agriculture and Rural Development 7.78% Mar 2038 NCD National Bank for Agriculture and Rural Development 7.78% 2038-03-29 AAA NSDL record, 2023
Cube Highways Trust 7.39% Mar 2038 NCD Cube Highways Trust 7.39% 2038-03-31 AAA CRISIL, 3 months ago
Indigrid Infrastructure Trust 7.35% Mar 2038 NCD Indigrid Infrastructure Trust 7.35% 2038-03-31 AAA India Ratings, 3 years ago
Biaora to Dewas Highway 9.50% Mar 2038 NCD Biaora to Dewas Highway Private Limited 9.50% 2038-03-31 A- NSDL record, 2020
GMR Hospitality and Retail Mar 2038 NCD GMR Hospitality and Retail Limited — 2038-03-31 AA+ NSDL record, 2024
Andhra Pradesh 7.96% Apr 2038 SDL Andhra Pradesh 7.96% 2038-04-08 —
Andhra Pradesh 7.52% Apr 2038 SDL Andhra Pradesh 7.52% 2038-04-12 —
Indian Railway Finance Corporation 7.74% Apr 2038 NCD Reg52 Indian Railway Finance Corporation Limited 7.74% 2038-04-15 AAA CARE, 3 months ago
Punjab 7.62% Apr 2038 SDL Punjab 7.62% 2038-04-19 —
Maharashtra 6.72% Apr 2038 SDL Maharashtra 6.72% 2038-04-23 —
Kudgi Transmission 9.50% Apr 2038 NCD Kudgi Transmission Limited 9.50% 2038-04-25 AAA NSDL record, 2017
NHPC 6.86% May 2038 NCD NHPC Limited 6.86% 2038-05-06 AAA CARE, 17 months ago
Gujarat 7.74% May 2038 SDL Gujarat 7.74% 2038-05-27 —
NHPC 7.67% May 2038 NCD NHPC Limited 7.67% 2038-05-29 AAA India Ratings, 4 months ago
Uttar Pradesh 7.74% Jun 2038 SDL Uttar Pradesh 7.74% 2038-06-10 —
Hyderabad Metropolitan Development Authority 8.50% Jun 2038 NCD Reg52 Hyderabad Metropolitan Development Authority 8.50% 2038-06-15 AA+ NSDL record, 2026
Power Finance Corporation 7.48% Jun 2038 NCD Power Finance Corporation Limited 7.48% 2038-06-19 AAA CARE, 7 months ago
Punjab National Bank 7.74% Jun 2038 NCD Punjab National Bank 7.74% 2038-06-30 AAA CARE, 11 months ago
Andhra Pradesh 7.19% Jul 2038 SDL Andhra Pradesh 7.19% 2038-07-07 —
IFCI Jul 2038 NCD IFCI Limited — 2038-07-07 B+ Brickwork, 4 days ago
Andhra Pradesh 8.02% Jul 2038 SDL Andhra Pradesh 8.02% 2038-07-20 —
West Bengal 8.07% Jul 2038 SDL West Bengal 8.07% 2038-07-27 —
State Bank of India 7.54% Aug 2038 NCD Reg52 State Bank of India 7.54% 2038-08-01 AAA ICRA, 3 years ago
Power Finance Corporation 7.50% Aug 2038 NCD Reg52 Power Finance Corporation Limited 7.50% 2038-08-01 AAA CARE, 7 months ago
Power Finance Corporation 7.55% Aug 2038 NCD Reg52 Power Finance Corporation Limited 7.55% 2038-08-01 AAA CARE, 7 months ago
National Highways Authority of India 7.26% Aug 2038 NCD National Highways Authority of India 7.26% 2038-08-10 AAA CRISIL, 5 years ago
Andhra Pradesh 7.74% Aug 2038 SDL Andhra Pradesh 7.74% 2038-08-19 —
Kerala 7.76% Aug 2038 SDL Kerala 7.76% 2038-08-24 —
Himachal Pradesh 7.42% Sep 2038 SDL Himachal Pradesh 7.42% 2038-09-06 —
India Infrastructure Finance Company 7.53% Sep 2038 NCD India Infrastructure Finance Company Limited 7.53% 2038-09-18 AA ICRA, 3 years ago
State Bank of India 7.49% Sep 2038 NCD Reg52 State Bank of India 7.49% 2038-09-24 AAA India Ratings, 3 years ago
Ashiana Housing 8.00% Sep 2038 NCD Ashiana Housing Limited 8.00% 2038-09-28 A ICRA, 8 years ago
Mumbai Urja Marg Sep 2038 NCD Mumbai Urja Marg Limited — 2038-09-30 AAA NSDL record, 2026
Mumbai Urja Marg Sep 2038 NCD Mumbai Urja Marg Limited — 2038-09-30 AA+ CRISIL, 22 months ago
Mumbai Urja Marg 7.85% Sep 2038 NCD Mumbai Urja Marg Limited 7.85% 2038-09-30 AA+ CRISIL, 13 months ago
Andhra Pradesh 7.67% Oct 2038 SDL Andhra Pradesh 7.67% 2038-10-11 —
India Infrastructure Finance Company 7.69% Oct 2038 NCD India Infrastructure Finance Company Limited 7.69% 2038-10-26 AAA NSDL record, 2023
State Bank of India 7.81% Nov 2038 NCD Reg52 State Bank of India 7.81% 2038-11-02 AAA CRISIL, 3 months ago
Bihar 7.73% Nov 2038 SDL Bihar 7.73% 2038-11-08 —
Himachal Pradesh 7.74% Nov 2038 SDL Himachal Pradesh 7.74% 2038-11-15 —
Telangana 7.34% Nov 2038 SDL Telangana 7.34% 2038-11-26 —
Manipur 7.77% Nov 2038 SDL Manipur 7.77% 2038-11-29 —
REC 7.67% Nov 2038 NCD REC Limited 7.67% 2038-11-30 AAA NSDL record, 2023
DME Development 7.74% Dec 2038 NCD DME Development Limited 7.74% 2038-12-04 AAA NSDL record, 2023
Bihar 7.74% Dec 2038 SDL Bihar 7.74% 2038-12-06 —
India Infrastructure Finance Company 7.67% Dec 2038 NCD India Infrastructure Finance Company Limited 7.67% 2038-12-08 AAA NSDL record, 2023
Power Finance Corporation 7.69% Dec 2038 NCD Power Finance Corporation Limited 7.69% 2038-12-15 AAA CARE, 7 months ago
Kerala 7.62% Dec 2038 SDL Kerala 7.62% 2038-12-20 —
Tamil Nadu 7.07% Dec 2038 SDL Tamil Nadu 7.07% 2038-12-22 —
National Bank for Financing Infrastructure and Development 7.65% Dec 2038 NCD National Bank for Financing Infrastructure and Development 7.65% 2038-12-22 AAA CRISIL, seen 28 Jun 2026
Hinduja Housing Finance 9.65% Dec 2038 NCD Hinduja Housing Finance Limited 9.65% 2038-12-29 AA+ CARE, 27 days ago

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