Belstar Microfinance Limited — Bonds & AA (CRISIL) Rating
NBFC · Financial Services
Verify this issuer →- Current ratings CRISIL AA, CARE AA-
- Rating range Current ratings range from AA- (CARE 31 Jul 2026) to AA (CRISIL 31 Aug 2025)
- Rating direction, 12 months 0 upgrades, 0 downgrades
- Watch / negative outlook None in 12 months
- Issuer not cooperating No such actions in 12 months
- Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
- Newest agency rating Dated 6 Aug 2026
- Payment record No payment disclosures since 17 Jul 2026
- Defaults on record No bond marked defaulted
- Traded in the last 30 days 3 of 8 active bonds had an exchange trade
- Exchange filings, 90 days 0 filings on NSE/BSE
A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.
- 8 active bonds tracked from this issuer.
- 3 of 8 tracked bonds with a stated security status are secured. (based on 8 bonds with a disclosed security status)
- Most recent rating action: initial by CRISIL on 6 Aug 2026.
Belstar Microfinance Limited, an NBFC in the Financial Services sector, is tracked on RetailBonds.in. Outstanding bonds carry coupons between 9.00% - 14.50%, paid quarterly. Maturities on outstanding bonds fall between 2027 - 2029.
Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.
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Maturity Profile
Active bonds maturing, by year. Bar height relative to the tallest year (4 bonds).
Security Type / Instrument Mix
- NCD 8 bonds · 100% · ₹750 Cr tracked
Funding Evolution
Based on 8 of 8 active bonds with a known issue date and issue size.
- AA 6 bonds · 75%
- Unrated 2 bonds · 25%
| Agency | Rating | Outlook | Bonds |
|---|---|---|---|
| CRISIL | AA | Stable | 3 |
| CARE | AA- | Stable | 1 |
| CRISIL | AA | — | 1 |
| CRISIL | AA- | — | 1 |
Rating History (Trend)
Recent Rating Actions
| ISIN | Bond Name | Coupon | Rating | Maturity | YTM | Last Trade | Details |
|---|---|---|---|---|---|---|---|
| INE443L08172 | Belstar Microfinance 9.15% Jun 2027 NCD | 9.15% | AA (CRISIL) | 2027-06-17 | 9.15% | 2026-10-09 | |
| INE443L07182 | Belstar Microfinance 9.10% Aug 2027 NCD | 9.10% | AA (CRISIL) | 2027-08-12 | — | — | |
| INE443L07190 | Belstar Microfinance 9.10% Aug 2027 NCD | 9.10% | AA (CRISIL) | 2027-08-12 | — | — | |
| INE443L08131 | Belstar Microfinance 14.50% Sep 2027 NCD | 14.50% | AA- (CARE) | 2027-09-30 | — | — | |
| INE443L07174 | Belstar Microfinance 9.20% Aug 2028 NCD | 9.20% | AA (CRISIL) | 2028-08-12 | 9.35% | 2026-11-05 | |
| INE443L08149 | Belstar Microfinance 11.00% Jul 2029 NCD | 11.00% | AA- (CRISIL, NSDL record 2023) | 2029-07-19 | 9.43% | 2026-11-06 | |
| INE443L08198 | Belstar Microfinance 9.00% Aug 2029 NCD | 9.00% | — | 2029-08-01 | — | — | |
| INE443L08180 | Belstar Microfinance 9.00% Oct 2029 NCD | 9.00% | — | 2029-10-01 | — | — |
YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.
Last 30 days, across all outstanding bonds from this issuer.
| Dataset | Count | Freshness |
|---|---|---|
| Credit Ratings (current) | 6 | 2026-07-31 |
| Rating Actions History | 2 | 2026-08-06 |
| Secondary-Market Trades | 113 | 2026-11-06 |
| Reg52(4) Payment Disclosures | 0 | — |
Methodology version 1.0. See full methodology for sources and limitations.
Related Issuers
All issuers →How many active bonds does Belstar Microfinance Limited have?
Belstar Microfinance Limited currently has 8 active bonds with coupons of 9.00% - 14.50%, maturities spanning 2027 - 2029.
What is Belstar Microfinance Limited's credit rating?
The most common current rating on Belstar Microfinance Limited's senior bonds is AA (CRISIL). Ratings on file come from CARE, CRISIL.
Are Belstar Microfinance Limited's bonds secured?
Of the 8 bonds with a disclosed security status, 3 are secured (37%) and 5 are unsecured.
When do Belstar Microfinance Limited's bonds mature?
Belstar Microfinance Limited's active bonds mature between 2027 - 2029; the nearest matures in Jun 2027; the average tenure is 1.6 Yrs.
What is the average coupon on Belstar Microfinance Limited's bonds?
The average coupon across Belstar Microfinance Limited's 8 active bonds is 10.01%.
Disclaimer: This page aggregates publicly available data about Belstar Microfinance Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.