Midland Microfin Limited

Nbfc

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Methodology v1.0 Download Report (PDF)
Latest Rating
BBB (CARE)
Total Debt Outstanding
₹990 Cr
Across 39 instruments
Listed Bonds
39
First Issue
2019-09-30
Latest Issue
2026-06-05
Maturity Range
2026 - 2036
Observation
39 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
01 Issuer Overview
Sector
Issuer Type
Nbfc
First Tracked Bond
2019-09-30
Start of this issuer's debt program timeline
  • 39 active bonds tracked from this issuer.
  • 17 of 39 tracked bonds with a stated security status are secured. (based on 39 bonds with a disclosed security status)

Midland Microfin Limited is an NBFC. Coupon rates on outstanding bonds range from 9.50% - 13.75%, paid quarterly. Bonds mature between 2026 - 2036.

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
39
Tracked by RetailBonds
Amount Tracked
₹990 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 37 of 39 bonds)
Avg Coupon
11.06%
Range 9.50% - 13.75%
Avg Remaining Tenure
2.7 Yrs
Nearest maturity 2026-08
Secured
43%
17 of 39 bonds with known status
Callable
4
Of 39 bonds
Avg Spread vs G-Sec
+527 bps
Credit premium (indicative)

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (10 bonds).

0 2026: 3 bonds, ₹130 Cr tracked, avg coupon 12.40% 3 bonds 2026 2027: 10 bonds, ₹419 Cr tracked, avg coupon 11.35% 10 bonds 2027 2028: 8 bonds, ₹221 Cr tracked, avg coupon 11.11% 8 bonds 2028 2029: 6 bonds, ₹52 Cr tracked, avg coupon 10.78% 6 bonds 2029 2030: 1 bond, ₹20 Cr tracked 1 bond 2030 2031: 4 bonds, ₹66 Cr tracked, avg coupon 10.60% 4 bonds 2031 2032: 2 bonds, ₹12 Cr tracked, avg coupon 10.38% 2 bonds 2032 2033: 2 bonds, ₹5 Cr tracked, avg coupon 10.25% 2 bonds 2033 2036: 2 bonds, ₹15 Cr tracked, avg coupon 11.00% 2 bonds 2036

Security Type / Instrument Mix

  • NCD 39 bonds · 100% · ₹990 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2019: ₹48 Cr issued 2019 2021: ₹142 Cr issued 2021 2022: ₹65 Cr issued 2022 2023: ₹25 Cr issued 2023 2024: ₹50 Cr issued 2024 2025: ₹455 Cr issued 2025 2026: ₹205 Cr issued 2026 Cumulative: ₹48 Cr Cumulative: ₹190 Cr Cumulative: ₹255 Cr Cumulative: ₹280 Cr Cumulative: ₹330 Cr Cumulative: ₹785 Cr Cumulative: ₹990 Cr

Based on 37 of 39 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • A 15 bonds · 38%
  • BBB 6 bonds · 15%
  • Unrated 18 bonds · 46%
AgencyRatingOutlookBonds
ACUITE A 8
ACUITE A- 7
CARE BBB 2
ACUITE BBB+ 1
CARE BBB Stable 1
CARE BBB+ 1
INDIA_RATINGS BBB 1

Recent Rating Actions

No rating action history available.

04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade
INE884Q07723 MML-10.75%-27-8-26-PVT 10.75% A (ACUITE) 2026-08-27
INE884Q07772 MML-12%-13-9-26-PVT 12.00% A (ACUITE) 2026-09-13
INE884Q07657 13.20% SECURED RATED UNLISTED REDEEMABLE NON-CONVERTIBLE DEBENTURES. DATE OF MATURITY 28/09/2029 13.20% BBB+ (ACUITE) 2026-09-28
INE884Q07780 MML-12%-19-11-26-PVT 12.00% A (ACUITE) 2026-11-19
INE884Q07632 MML-11.77%-31-3-27-PVT 11.77% BBB (INDIA_RATINGS) 2027-03-31
INE884Q07806 MML-12%-4-4-27-PVT 12.00% A (ACUITE) 2027-04-04
INE884Q07830 MML-ZC-28-04-27-PVT A (ACUITE) 2027-04-28
INE884Q07764 MML-10.75%-27-5-27-PVT 10.75% A (ACUITE) 2027-05-27 12.00% 2026-08-25
INE884Q07822 MML-11.70%-30-06-27-PVT 11.70% BBB (CARE) 2027-06-30 12.25% 2026-08-13
IN8884Q07029 11.70% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 30/06/2027 11.70% 2027-06-30
INE884Q07863 12% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 05/09/2027 12.00% A- (ACUITE) 2027-09-05
INE884Q07798 MML-10.75%-30-9-27-PVT 10.75% A (ACUITE) 2027-09-30 12.00% 2026-08-14
IN8884Q07011 10.75% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 30/09/2027 10.75% 2027-09-30
INE884Q07814 MML-10.75%-27-11-27-PVT 10.75% A (ACUITE) 2027-11-27 12.00% 2026-08-21
INE884Q07673 13% SECURED RATED UNLISTED REDEEMABLE NON CONVERTIBLE DEBENTURES DATE OF MATURITY 24/01/2028 13.00% BBB+ (CARE) 2028-01-24
INE884Q08168 10.10% UNSECURED UNRATED UNLISTED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES V. DATE OF MATURITY 08/02/2028 10.10% 2028-02-08
INE884Q08184 10% UNSECURED UNRATED UNLISTED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES V. DATE OF MATURITY 08/02/2028 10.00% 2028-02-08
INE884Q07848 11.90% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 30/04/2028 11.90% A- (ACUITE) 2028-04-30
INE884Q07855 10.65% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE DATE OF MATURITY 01/06/2028 10.65% A- (ACUITE) 2028-06-01 12.43% 2026-08-25
INE884Q08200 9.5% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VI. DATE OF MATURITY 01/07/2028 9.50% 2028-07-01
INE884Q08218 9.95% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VI. DATE OF MATURITY 01/07/2028 9.95% 2028-07-01
INE884Q08291 MML-13.75%-15-12-28-PVT 13.75% BBB (CARE) 2028-12-15
INE884Q08143 11.50% UNSECURED UNRATED UNLISTED REDEEMABLE NON CONVERTIBLE SUBORDINATED DEBT BONDS IN THE NATURE OF DEBENTURE. SERIES - IV. DATE OF MATURITY 29/03/2029 11.50% 2029-03-29
INE884Q08127 11.10% UNSECURED UNRATED UNLISTED REDEEMABLE NON CONVERTIBLE SUBORDINATED DEBT BONDS IN THE NATURE OF DEBENTURE. SERIES - IV. DATE OF MATURITY 29/03/2029 11.10% 2029-03-29
INE884Q08150 11.50% UNSECURED UNRATED UNLISTED REDEEMABLE NON CONVERTIBLE SUBORDINATED DEBT BONDS IN THE NATURE OF DEBENTURE. SERIES - IV. DATE OF MATURITY 28/04/2029 11.50% 2029-04-28
INE884Q08135 11.10% UNSECURED UNRATED UNLISTED REDEEMABLE NON CONVERTIBLE SUBORDINATED DEBT BONDS IN THE NATURE OF DEBENTURE. SERIES - IV. DATE OF MATURITY 28/04/2029 11.10% 2029-04-28
INE884Q08275 10% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VII. DATE OF MATURITY 18/08/2029 10.00% 2029-08-18
INE884Q08242 9.50% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VII. DATE OF MATURITY 18/08/2029 9.50% 2029-08-18
INE884Q08309 MML-0%-18-12-30-PVT BBB (CARE) 2030-12-18
INE884Q08192 11.10% UNSECURED UNRATED UNLISTED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES V. DATE OF MATURITY 08/02/2031 11.10% 2031-02-08
INE884Q08176 10.80% UNSECURED UNRATED UNLISTED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES V. DATE OF MATURITY 08/02/2031 10.80% 2031-02-08
INE884Q08234 10.50% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VI. DATE OF MATURITY 01/07/2031 10.50% 2031-07-01
INE884Q08226 10% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VI. DATE OF MATURITY 01/07/2031 10.00% 2031-07-01
INE884Q08267 10.75% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VII. DATE OF MATURITY 18/08/2032 10.75% 2032-08-18
INE884Q08259 10% UNSECURED UNRATED UNLISTED SUBORDINATED REDEEMABLE NON-CONVERTIBLE DEBENTURES.SERIES VII. DATE OF MATURITY 18/08/2032 10.00% 2032-08-18
INE884Q08333 10.50% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES 2 DATE OF MATURITY 04/04/2033 10.50% A- (ACUITE) 2033-04-04
INE884Q08317 10% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES 1 DATE OF MATURITY 04/04/2033 10.00% A- (ACUITE) 2033-04-04
INE884Q08341 10.75% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES 3 DATE OF MATURITY 04/04/2036 10.75% A- (ACUITE) 2036-04-04
INE884Q08325 11.25% UNSECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES 4 DATE OF MATURITY 04/04/2036 11.25% A- (ACUITE) 2036-04-04
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)
22
Avg. Yield (Last 30 Days)
12.06%
06 Regulatory Filings

No regulatory filings captured yet for this issuer.

07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 21 2026-01-31
Rating Actions History 0
Secondary-Market Trades 68 2026-08-25
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 Midland Microfin Limited have?

Midland Microfin Limited currently has 39 active bonds with coupons 9.50% - 13.75%, maturities spanning 2026 - 2036.

What is Midland Microfin Limited's credit rating?

The most recent rating on Midland Microfin Limited's bonds is BBB (CARE), published by ACUITE, CARE, INDIA_RATINGS.

Are Midland Microfin Limited's bonds secured?

Of the 39 bonds with a disclosed security status, 17 are secured (43%) and 22 are unsecured.

When do Midland Microfin Limited's bonds mature?

Midland Microfin Limited's active bonds mature between 2026 - 2036; the nearest matures in 2026-08; the average tenure is 2.7 Yrs.

What is the average coupon on Midland Microfin Limited's bonds?

The average coupon across Midland Microfin Limited's 39 active bonds is 11.06%.

Disclaimer: This page aggregates publicly available data about Midland Microfin 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.