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Belstar Microfinance Limited

Nbfc · Financial Services

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Methodology v1.0 Download Report (PDF)
Latest Rating
AA (CRISIL)
Total Debt Outstanding
₹550 Cr
Across 6 instruments
Listed Bonds
6
First Issue
2020-09-30
Latest Issue
2025-08-12
Maturity Range
2027 - 2029
Observation
6 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
01 Issuer Overview
Sector
Financial Services
Issuer Type
Nbfc
First Tracked Bond
2020-09-30
Start of this issuer's debt program timeline
  • 6 active bonds tracked from this issuer.
  • 3 of 6 tracked bonds with a stated security status are secured. (based on 6 bonds with a disclosed security status)
  • Most recent rating action: initial by CRISIL on 2026-08-06.

Belstar Microfinance Limited, an NBFC in the financial services sector, is tracked on RetailBonds.in. Outstanding bonds carry coupons between 9.10% - 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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02 Debt Profile
Outstanding Bonds
6
Tracked by RetailBonds
Amount Tracked
₹550 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt
Avg Coupon
10.34%
Range 9.10% - 14.50%
Avg Remaining Tenure
1.4 Yrs
Nearest maturity 2027-06
Secured
50%
3 of 6 bonds with known status
Callable
0
Of 6 bonds
Avg Spread vs G-Sec
+449 bps
Credit premium (indicative)

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (4 bonds).

0 2027: 4 bonds, ₹300 Cr tracked, avg coupon 10.46% 4 bonds 2027 2028: 1 bond, ₹100 Cr tracked, avg coupon 9.20% 1 bond 2028 2029: 1 bond, ₹150 Cr tracked, avg coupon 11.00% 1 bond 2029

Security Type / Instrument Mix

  • NCD 6 bonds · 100% · ₹550 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2020: ₹50 Cr issued 2020 2023: ₹150 Cr issued 2023 2025: ₹350 Cr issued 2025 Cumulative: ₹50 Cr Cumulative: ₹200 Cr Cumulative: ₹550 Cr

Based on 6 of 6 active bonds with a known issue date and issue size.

03 Credit Profile
  • AA 5 bonds · 83%
  • A 1 bonds · 17%
AgencyRatingOutlookBonds
CRISIL AA Stable 3
CARE A 1
CRISIL AA 1
CRISIL AA- 1

Rating History (Trend)

AAA AA A BBB Below BBB Unrated CRISIL: AA on 2026-06-16 CRISIL: AA on 2026-08-06
Jun 26 — Aug 26 CRISIL

Recent Rating Actions

2026-08-06 · CRISIL
AA
Initial · Stable
2026-06-16 · CRISIL
AA
Reaffirmed · Stable
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade
INE443L08172 BML-9.15%-17-6-27-PVT 9.15% AA (CRISIL) 2027-06-17
INE443L07182 BML-9.10%-12-8-27-PVT 9.10% AA (CRISIL) 2027-08-12
INE443L07190 BML-9.1%-12-8-27-PVT 9.10% AA (CRISIL) 2027-08-12
INE443L08131 BML-14.5%-30-9-27-PVT 14.50% A (CARE) 2027-09-30
INE443L07174 BML-9.20%-12-8-28-PVT 9.20% AA (CRISIL) 2028-08-12 9.14% 2026-08-28
INE443L08149 11% UNSECURED RATED UNLISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE. DATE OF MATURITY 19/07/2029. 11.00% AA- (CRISIL) 2029-07-19 9.72% 2026-08-28
Compare (/) Compare Bonds

YTM and Last Trade depend on secondary-market volume — shown only for bonds with a recorded BSE/NSE trade.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

Traded Value (Last 30 Days)
₹0.0 Cr
Number of Trades (Last 30 Days)
33
Avg. Yield (Last 30 Days)
9.3%
06 Regulatory Filings
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 6 2025-08-31
Rating Actions History 2 2026-08-06
Secondary-Market Trades 66 2026-08-28
Reg52(4) Payment Disclosures 0

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Belstar Microfinance Limited have?

Belstar Microfinance Limited currently has 6 active bonds with coupons 9.10% - 14.50%, maturities spanning 2027 - 2029.

What is Belstar Microfinance Limited's credit rating?

The most recent rating on Belstar Microfinance Limited's bonds is AA (CRISIL), published by CARE, CRISIL.

Are Belstar Microfinance Limited's bonds secured?

Of the 6 bonds with a disclosed security status, 3 are secured (50%) and 3 are unsecured.

When do Belstar Microfinance Limited's bonds mature?

Belstar Microfinance Limited's active bonds mature between 2027 - 2029; the nearest matures in 2027-06; the average tenure is 1.4 Yrs.

What is the average coupon on Belstar Microfinance Limited's bonds?

The average coupon across Belstar Microfinance Limited's 6 active bonds is 10.34%.

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.