Muthoot Mercantile Limited

Nbfc

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Methodology v1.0 Download Report (PDF)
Latest Rating
BBB+ (CRISIL)
Total Debt Outstanding
₹686 Cr
Across 50 instruments
Listed Bonds
50
First Issue
2023-12-21
Latest Issue
2026-06-12
Maturity Range
2026 - 2032
Observation
50 active bonds tracked from this issuer.
View details →
Coverage: Medium Data Quality: Medium Sources: NSE, BSE, SEBI, rating agencies
01 Issuer Overview
Sector
Issuer Type
Nbfc
First Tracked Bond
2023-12-21
Start of this issuer's debt program timeline
  • 50 active bonds tracked from this issuer.
  • 50 of 50 tracked bonds with a stated security status are secured. (based on 50 bonds with a disclosed security status)
  • Most recent rating action: initial by CRISIL on 2026-06-17.

Muthoot Mercantile Limited, an NBFC, is tracked on RetailBonds.in. Outstanding bonds carry coupons between 9.50% - 11.50%, paid monthly. Maturities on outstanding bonds fall between 2026 - 2032.

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
50
Tracked by RetailBonds
Amount Tracked
₹686 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt
Avg Coupon
10.57%
Range 9.50% - 11.50%
Avg Remaining Tenure
2.2 Yrs
Nearest maturity 2026-09
Secured
100%
50 of 50 bonds with known status
Callable
0
Of 50 bonds
Avg Spread vs G-Sec
+513 bps
Credit premium (indicative)

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (14 bonds).

0 2026: 8 bonds, ₹59 Cr tracked, avg coupon 10.16% 8 bonds 2026 2027: 10 bonds, ₹158 Cr tracked, avg coupon 10.40% 10 bonds 2027 2028: 14 bonds, ₹173 Cr tracked, avg coupon 10.61% 14 bonds 2028 2029: 6 bonds, ₹166 Cr tracked, avg coupon 11.10% 6 bonds 2029 2030: 7 bonds, ₹61 Cr tracked, avg coupon 10.88% 7 bonds 2030 2031: 3 bonds, ₹33 Cr tracked 3 bonds 2031 2032: 2 bonds, ₹37 Cr tracked 2 bonds 2032

Security Type / Instrument Mix

  • NCD 50 bonds · 100% · ₹686 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2023: ₹62 Cr issued 2023 2024: ₹181 Cr issued 2024 2025: ₹312 Cr issued 2025 2026: ₹131 Cr issued 2026 Cumulative: ₹62 Cr Cumulative: ₹243 Cr Cumulative: ₹555 Cr Cumulative: ₹686 Cr

Based on 50 of 50 active bonds with a known issue date and issue size.

03 Credit Profile
  • BBB 50 bonds · 100%
AgencyRatingOutlookBonds
INDIA_RATINGS BBB 43
CRISIL BBB+ 7

Recent Rating Actions

2026-06-17 · CRISIL
BBB
Initial · Stable
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade
INE05F407DK3 9.50% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES I DATE OF MATURITY 04/09/2026 9.50% BBB (INDIA_RATINGS) 2026-09-04
INE05F407DH9 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES II DATE OF MATURITY 04/09/2026 BBB (INDIA_RATINGS) 2026-09-04
INE05F407DA4 10.15% SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE SERIES III DATE OF MATURITY 29/09/2026. 10.15% BBB (INDIA_RATINGS) 2026-09-29
INE05F407CT6 SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE SERIES IV DATE OF MATURITY 29/09/2026. BBB (INDIA_RATINGS) 2026-09-29
INE05F407BH3 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES VIII OPTION I DATE OF MATURITY 21/12/2026 BBB (INDIA_RATINGS) 2026-12-21
INE05F407BG5 10.25% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES VII OPTION I DATE OF MATURITY 21/12/2026 10.25% BBB (INDIA_RATINGS) 2026-12-21
INE05F407BM3 10.75% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES VII OPTION II DATE OF MATURITY 21/12/2026 10.75% BBB (INDIA_RATINGS) 2026-12-21
INE05F407BO9 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES VIII OPTION II DATE OF MATURITY 21/12/2026 BBB (INDIA_RATINGS) 2026-12-21
INE05F407DN7 9.50% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES II DATE OF MATURITY 23/01/2027 9.50% BBB (INDIA_RATINGS) 2027-01-23
INE05F407DM9 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES I DATE OF MATURITY 23/01/2027 BBB (INDIA_RATINGS) 2027-01-23
INE05F407CD0 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VIII DATE OF MATURITY 27/05/2027 BBB (INDIA_RATINGS) 2027-05-27
INE05F407CB4 10.75% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VII DATE OF MATURITY 27/05/2027 10.75% BBB (INDIA_RATINGS) 2027-05-27
INE05F407DV0 10.50% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES I TRANCHE VIII DATE OF MATURITY 17/07/2027 10.50% BBB+ (CRISIL) 2027-07-17
INE05F407DX6 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES II TRANCHE VIII DATE OF MATURITY 17/07/2027 BBB+ (CRISIL) 2027-07-17
INE05F407CQ2 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VI DATE OF MATURITY 11/09/2027 BBB (INDIA_RATINGS) 2027-09-11
INE05F407CM1 11.25% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES V DATE OF MATURITY 11/09/2027 11.25% BBB (INDIA_RATINGS) 2027-09-11
INE05F407DR8 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES III DATE OF MATURITY 19/12/2027 BBB (INDIA_RATINGS) 2027-12-19
INE05F407DO5 10% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES IV DATE OF MATURITY 19/12/2027 10.00% BBB (INDIA_RATINGS) 2027-12-19
INE05F407CW0 10.75% SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE SERIES V DATE OF MATURITY 29/01/2028. 10.75% BBB (INDIA_RATINGS) 2028-01-29
INE05F407CX8 SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE SERIES VI DATE OF MATURITY 29/01/2028. BBB (INDIA_RATINGS) 2028-01-29
INE05F407DF3 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES IV DATE OF MATURITY 20/04/2028 BBB (INDIA_RATINGS) 2028-04-20
INE05F407DG1 10.75% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES III DATE OF MATURITY 20/04/2028 10.75% BBB (INDIA_RATINGS) 2028-04-20
INE05F407DZ1 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES IV TRANCHE VIII DATE OF MATURITY 12/06/2028 BBB+ (CRISIL) 2028-06-12
INE05F407DY4 10.75% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES III TRANCHE VIII DATE OF MATURITY 12/06/2028 10.75% BBB+ (CRISIL) 2028-06-12
INE05F407DI7 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES IV DATE OF MATURITY 30/07/2028 BBB (INDIA_RATINGS) 2028-07-30
INE05F407DJ5 10.25% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES III DATE OF MATURITY 30/07/2028 10.25% BBB (INDIA_RATINGS) 2028-07-30
INE05F407DP2 10.25% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VI DATE OF MATURITY 18/12/2028 10.25% BBB (INDIA_RATINGS) 2028-12-18
INE05F407DS6 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES V DATE OF MATURITY 19/12/2028 BBB (INDIA_RATINGS) 2028-12-19
INE05F407BB6 10.50% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES IX OPTION I DATE OF MATURITY 21/12/2028 10.50% BBB (INDIA_RATINGS) 2028-12-21
INE05F407BJ9 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES X OPTION I DATE OF MATURITY 21/12/2028 BBB (INDIA_RATINGS) 2028-12-21
INE05F407BL5 11% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES IX OPTION II DATE OF MATURITY 21/12/2028 11.00% BBB (INDIA_RATINGS) 2028-12-21
INE05F407BQ4 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES X OPTION II DATE OF MATURITY 21/12/2028 BBB (INDIA_RATINGS) 2028-12-21
INE05F407CC2 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES X DATE OF MATURITY 27/05/2029 BBB (INDIA_RATINGS) 2029-05-27
INE05F407CH1 10.80% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES IX DATE OF MATURITY 27/05/2029 10.80% BBB (INDIA_RATINGS) 2029-05-27
INE05F407DW8 11% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES V TRANCHE VIII DATE OF MATURITY 12/06/2029 11.00% BBB+ (CRISIL) 2029-06-12
INE05F407EA2 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VI TRANCHE VIII DATE OF MATURITY 12/06/2029 BBB+ (CRISIL) 2029-06-12
INE05F407CL3 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VIII DATE OF MATURITY 11/09/2029 BBB (INDIA_RATINGS) 2029-09-11
INE05F407CO7 11.50% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VII DATE OF MATURITY 11/09/2029 11.50% BBB (INDIA_RATINGS) 2029-09-11
INE05F407CZ3 SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE SERIES VIII DATE OF MATURITY 29/01/2030. BBB (INDIA_RATINGS) 2030-01-29
INE05F407CY6 11% SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE SERIES VII DATE OF MATURITY 29/01/2030. 11.00% BBB (INDIA_RATINGS) 2030-01-29
INE05F407AZ7 SECURED RATED LISTED REDEEMALE NON CONVERTIBLE DEBENTURES LETTER OF ALLOTMENT SERIES XI DATE OF MATURITY 21/03/2030 BBB (INDIA_RATINGS) 2030-03-21
INE05F407CE8 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES XI DATE OF MATURITY 27/07/2030 BBB (INDIA_RATINGS) 2030-07-27
INE05F407CR0 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES IX DATE OF MATURITY 11/10/2030 BBB (INDIA_RATINGS) 2030-10-11
INE05F407DQ0 10.75% SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VIII DATE OF MATURITY 19/12/2030 10.75% BBB (INDIA_RATINGS) 2030-12-19
INE05F407DT4 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VII DATE OF MATURITY 19/12/2030 BBB (INDIA_RATINGS) 2030-12-19
INE05F407DB2 SECURED RATED LISTED REDEEMABLE NON-CONVERTIBLE DEBENTURE SERIES IX DATE OF MATURITY 27/02/2031. BBB (INDIA_RATINGS) 2031-02-27
INE05F407DE6 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES V DATE OF MATURITY 20/05/2031 BBB (INDIA_RATINGS) 2031-05-20
INE05F407DL1 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURES SERIES V DATE OF MATURITY 29/10/2031 BBB (INDIA_RATINGS) 2031-10-29
INE05F407DU2 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES IX DATE OF MATURITY 19/03/2032 BBB (INDIA_RATINGS) 2032-03-19
INE05F407EB0 SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE SERIES VII TRANCHE VIII DATE OF MATURITY 12/07/2032 BBB+ (CRISIL) 2032-07-12
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YTM and Last Trade depend on secondary-market volume — shown only for bonds with a recorded BSE/NSE trade.

05 Market Activity

No recorded secondary-market trades in the last 30 days.

06 Regulatory Filings
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 50 2026-04-24
Rating Actions History 1 2026-06-17
Secondary-Market Trades 0
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 Muthoot Mercantile Limited have?

Muthoot Mercantile Limited currently has 50 active bonds with coupons 9.50% - 11.50%, maturities spanning 2026 - 2032.

What is Muthoot Mercantile Limited's credit rating?

The most recent rating on Muthoot Mercantile Limited's bonds is BBB+ (CRISIL), published by CRISIL, INDIA_RATINGS.

Are Muthoot Mercantile Limited's bonds secured?

Of the 50 bonds with a disclosed security status, 50 are secured (100%) and 0 are unsecured.

When do Muthoot Mercantile Limited's bonds mature?

Muthoot Mercantile Limited's active bonds mature between 2026 - 2032; the nearest matures in 2026-09; the average tenure is 2.2 Yrs.

What is the average coupon on Muthoot Mercantile Limited's bonds?

The average coupon across Muthoot Mercantile Limited's 50 active bonds is 10.57%.

Disclaimer: This page aggregates publicly available data about Muthoot Mercantile 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.