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NIIF Infrastructure Finance Limited — Bonds & AAA (ICRA) Rating

NBFC · Financial Services

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Agency Rating
AAA (ICRA)
Most common current rating on senior bonds
6 of 6 rated · ICRA, 28 Jun 2026
Total Debt Outstanding
₹28,248 Cr
Across 57 instruments
Active Bonds
57
First Issue
15 Jan 2020
Latest Issue
29 Sep 2026
Maturity Range
2026 - 2039
Observation
57 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
Issuer health card Nothing flagged on record
  • Current ratings ICRA AAA
  • Rating range All current ratings are AAA (ICRA 28 Jun 2026)
  • 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  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months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 13 payment disclosures since 17 Jul 2026: all on time
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 3 of 57 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names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility.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.

Alert me about NIIF Infrastructure Finance Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Financial Services
Issuer Type
NBFC
First Tracked Bond
15 Jan 2020
Start of this issuer's debt program timeline
  • 57 active bonds tracked from this issuer.
  • 57 of 57 tracked bonds with a stated security status are secured. (based on 57 bonds with a disclosed security status)
  • Most recent rating action: reaffirm by CRISIL on 6 Aug 2026.

NIIF Infrastructure Finance Limited is an NBFC in the Financial Services sector. Coupon rates on outstanding bonds range from 6.75% - 8.70%, paid annually. Bonds mature between 2026 - 2039.

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
57
Tracked by RetailBonds
Amount Tracked
₹28,248 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 45 of 57 bonds)
Avg Coupon
7.73%
Range 6.75% - 8.70%
Avg Remaining Tenure
4.2 Yrs
Nearest maturity Nov 2026
Secured
100%
57 of 57 bonds with known status
Callable
0
Of 57 bonds
Avg Spread vs G-Sec
+134 bps
Credit premium, from 3 bonds with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (11 bonds).

0 2026: 2 bonds, ₹1,625 Cr tracked, avg coupon 6.84% 2 bonds 2026 2027: 9 bonds, ₹4,119 Cr tracked, avg coupon 7.33% 9 bonds 2027 2028: 8 bonds, ₹2,935 Cr tracked, avg coupon 7.86% 8 bonds 2028 2029: 4 bonds, ₹1,990 Cr tracked, avg coupon 8.03% 4 bonds 2029 2030: 5 bonds, ₹2,802 Cr tracked, avg coupon 7.87% 5 bonds 2030 2031: 11 bonds, ₹6,481 Cr tracked, avg coupon 7.56% 11 bonds 2031 2032: 5 bonds, ₹1,391 Cr tracked, avg coupon 8.03% 5 bonds 2032 2033: 4 bonds, ₹2,876 Cr tracked, avg coupon 7.81% 4 bonds 2033 2034: 2 bonds, ₹624 Cr tracked, avg coupon 8.10% 2 bonds 2034 2035: 2 bonds, ₹1,400 Cr tracked, avg coupon 7.86% 2 bonds 2035 2036: 2 bonds, ₹800 Cr tracked, avg coupon 7.95% 2 bonds 2036 2037: 1 bond, ₹1,000 Cr tracked, avg coupon 7.99% 1 bond 2037 2039: 2 bonds, ₹205 Cr tracked, avg coupon 8.07% 2 bonds 2039

Security Type / Instrument Mix

  • NCD 57 bonds · 100% · ₹28,248 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2020: ₹500 Cr issued 2020 2021: ₹2,356 Cr issued 2021 2022: ₹4,360 Cr issued 2022 2023: ₹4,535 Cr issued 2023 2024: ₹3,971 Cr issued 2024 2025: ₹5,326 Cr issued 2025 2026: ₹7,200 Cr issued 2026 Cumulative: ₹500 Cr Cumulative: ₹2,856 Cr Cumulative: ₹7,216 Cr Cumulative: ₹11,751 Cr Cumulative: ₹15,722 Cr Cumulative: ₹21,048 Cr Cumulative: ₹28,248 Cr

Based on 45 of 57 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • AAA 40 bonds · 70%
  • Unrated 17 bonds · 30%
AgencyRatingOutlookBonds
ICRA AAA — 6
ICRA AAA NSDL record — 21
CARE AAA NSDL record — 13

Recent Rating Actions

6 Aug 2026 · CRISIL
AAA
Reaffirmed · Stable
14 Jul 2026 · CRISIL
—
Update
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE246R07525 NIIF Infrastructure Finance 6.84% Nov 2026 NCD 6.84% AAA (CARE, NSDL record 2021) 2026-11-20 — —
INE246R07541 NIIF Infrastructure Finance 6.84% Nov 2026 NCD 6.84% AAA (CARE, NSDL record 2021) 2026-11-27 — —
INE246R07558 NIIF Infrastructure Finance 6.75% Feb 2027 NCD 6.75% AAA (CARE, NSDL record 2021) 2027-02-23 — —
IN8246R07037 NIIF Infrastructure Finance 6.75% Feb 2027 NCD 6.75% — 2027-02-23 — —
INE246R07574 NIIF Infrastructure Finance 7.05% Feb 2027 NCD 7.05% AAA (CARE, NSDL record 2022) 2027-02-25 — 2026-08-24
INE246R07582 NIIF Infrastructure Finance 7.11% May 2027 NCD 7.11% AAA (ICRA, NSDL record 2022) 2027-05-28 — —
IN8246R07052 NIIF Infrastructure Finance 7.11% May 2027 NCD 7.11% — 2027-05-28 — —
INE246R07608 NIIF Infrastructure Finance 8.00% Aug 2027 NCD 8.00% AAA (ICRA, NSDL record 2022) 2027-08-24 — —
INE246R07590 NIIF Infrastructure Finance 7.80% Aug 2027 NCD 7.80% AAA (ICRA, NSDL record 2022) 2027-08-27 — —
INE246R07624 NIIF Infrastructure Finance 7.68% Nov 2027 NCD 7.68% AAA (ICRA, NSDL record 2022) 2027-11-25 — —
IN8246R07078 NIIF Infrastructure Finance 7.68% Nov 2027 NCD 7.68% — 2027-11-25 — —
IN8246R07086 NIIF Infrastructure Finance 7.98% Feb 2028 NCD 7.98% — 2028-02-24 — —
INE246R07632 NIIF Infrastructure Finance 7.98% Feb 2028 NCD 7.98% AAA (ICRA, NSDL record 2023) 2028-02-24 — —
INE246R07640 NIIF Infrastructure Finance 8.05% Mar 2028 NCD 8.05% AAA (CARE, NSDL record 2023) 2028-03-17 — —
INE246R07806 NIIF Infrastructure Finance 7.30% Aug 2028 NCD 7.30% AAA (ICRA, NSDL record 2025) 2028-08-17 — —
INE246R07665 NIIF Infrastructure Finance 7.96% Aug 2028 NCD 7.96% AAA (ICRA, NSDL record 2023) 2028-08-24 — —
IN8246R07094 NIIF Infrastructure Finance 7.96% Aug 2028 NCD 7.96% — 2028-08-24 — —
INE246R07871 NIIF Infrastructure Finance 7.54% Nov 2028 NCD 7.54% AAA (ICRA) 2028-11-13 — —
INE246R07681 NIIF Infrastructure Finance 8.09% Nov 2028 NCD 8.09% AAA (CARE, NSDL record 2023) 2028-11-28 — —
INE246R07905 NIIF Infrastructure Finance 7.88% Aug 2029 NCD 7.88% AAA (ICRA) 2029-08-21 — 2026-07-02
INE246R07731 NIIF Infrastructure Finance 8.07% Aug 2029 NCD 8.07% AAA (ICRA, NSDL record 2024) 2029-08-23 — 2026-07-03
INE246R07947 NIIF Infrastructure Finance 8.18% Nov 2029 NCD 8.18% — 2029-11-22 — —
INE246R07749 NIIF Infrastructure Finance 7.99% Nov 2029 NCD 7.99% AAA (ICRA, NSDL record 2024) 2029-11-29 — —
INE246R07400 NIIF Infrastructure Finance 8.70% Jan 2030 NCD 8.70% AAA (CARE, NSDL record 2019) 2030-01-15 — —
INE246R07814 NIIF Infrastructure Finance 7.43% Aug 2030 NCD 7.43% AAA (ICRA, NSDL record 2025) 2030-08-22 — —
INE246R07822 NIIF Infrastructure Finance 7.42% Nov 2030 NCD 7.42% AAA (ICRA) 2030-11-21 — —
INE246R07756 NIIF Infrastructure Finance 7.88% Nov 2030 NCD 7.88% AAA (CARE, NSDL record 2024) 2030-11-28 — —
INE246R07764 NIIF Infrastructure Finance 7.93% Dec 2030 NCD 7.93% AAA (ICRA, NSDL record 2024) 2030-12-05 — —
INE246R07483 NIIF Infrastructure Finance 7.25% Feb 2031 NCD 7.25% AAA (CARE, NSDL record 2021) 2031-02-04 — 2026-08-05
IN8246R07011 NIIF Infrastructure Finance 7.25% Feb 2031 NCD 7.25% — 2031-02-04 — —
INE246R07830 NIIF Infrastructure Finance 7.41% Feb 2031 NCD 7.41% AAA (ICRA) 2031-02-20 — —
INE246R07855 NIIF Infrastructure Finance 7.68% Feb 2031 NCD 7.68% AAA (ICRA, NSDL record 2026) 2031-02-27 — 2026-07-24
INE246R07863 NIIF Infrastructure Finance 7.56% Apr 2031 NCD 7.56% AAA (ICRA, NSDL record 2026) 2031-04-17 — —
IN8246R07045 NIIF Infrastructure Finance 7.17% Aug 2031 NCD 7.17% — 2031-08-22 — —
INE246R07533 NIIF Infrastructure Finance 7.17% Aug 2031 NCD 7.17% AAA (CARE, NSDL record 2021) 2031-08-22 — —
INE246R07897 NIIF Infrastructure Finance 7.88% Aug 2031 NCD 7.88% AAA (ICRA) 2031-08-28 — 2026-09-28
IN8246R07136 NIIF Infrastructure Finance 7.88% Aug 2031 NCD 7.88% — 2031-08-28 — —
INE246R07939 NIIF Infrastructure Finance 8.10% Nov 2031 NCD 8.10% — 2031-11-20 8.50% 2026-10-26
INE246R07913 NIIF Infrastructure Finance 7.80% Nov 2031 NCD 7.80% — 2031-11-27 — —
INE246R07954 NIIF Infrastructure Finance 8.19% Feb 2032 NCD 8.19% — 2032-02-19 8.50% 2026-10-19
INE246R07780 NIIF Infrastructure Finance 7.93% May 2032 NCD 7.93% AAA (ICRA, NSDL record 2025) 2032-05-20 — —
IN8246R07128 NIIF Infrastructure Finance 7.93% May 2032 NCD 7.93% — 2032-05-20 — —
INE246R07616 NIIF Infrastructure Finance 8.04% May 2032 NCD 8.04% AAA (ICRA, NSDL record 2022) 2032-05-27 8.64% 2026-10-22
IN8246R07060 NIIF Infrastructure Finance 8.04% May 2032 NCD 8.04% — 2032-05-27 — —
INE246R07889 NIIF Infrastructure Finance 7.75% Feb 2033 NCD 7.75% AAA (ICRA, NSDL record 2026) 2033-02-17 — —
INE246R07657 NIIF Infrastructure Finance 8.03% May 2033 NCD 8.03% AAA (ICRA, NSDL record 2023) 2033-05-09 — —
INE246R07848 NIIF Infrastructure Finance 7.48% May 2033 NCD 7.48% AAA (ICRA) 2033-05-26 — —
INE246R07673 NIIF Infrastructure Finance 7.97% Jul 2033 NCD 7.97% AAA (ICRA, NSDL record 2023) 2033-07-29 — —
INE246R07707 NIIF Infrastructure Finance 8.10% Jan 2034 NCD 8.10% AAA (CARE, NSDL record 2024) 2034-01-24 — —
IN8246R07110 NIIF Infrastructure Finance 8.10% Jan 2034 NCD 8.10% — 2034-01-24 — —
Compare (/) Compare Bonds

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.

More bonds from this issuer (5)
05 Market Activity

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

BSE Traded Value (Last 30 Days)
—
Number of Trades (Last 30 Days)
3
Avg. Yield (Last 30 Days)
8.55%
06 Payment Disclosures (SEBI Reg52(4)) 10 disclosed

Interest and redemption payments as broadcast by NSE under SEBI LODR Reg 52(4)/60, across all outstanding bonds from this issuer -- actual disclosed events, not a projected schedule.

Due DateBondTypeAmount DueAmount PaidStatusFiling
6 Nov 2026 7.41% SECURED RATED LISTED... Interest ₹59,28,00,000.00 ₹59,28,00,000.00 Paid XBRL →
25 Oct 2026 8.085% SECURED RATED LISTED... Interest ₹40,43,00,000.00 ₹40,43,00,000.00 Paid XBRL →
24 Oct 2026 7.8750% SECURED RATED LISTED... Interest ₹63,00,00,000.00 ₹63,00,00,000.00 Paid XBRL →
28 Sep 2026 6.84% SECURED RATED LISTED... Interest ₹68,40,00,000.00 ₹68,40,00,000.00 Paid XBRL →
22 Sep 2026 6.84% SECURED RATED LISTED... Interest ₹42,75,00,000.00 ₹42,75,00,000.00 Paid XBRL →
22 Sep 2026 7.17% SECURED RATED LISTED... Interest ₹63,60,00,000.00 ₹63,60,00,000.00 Paid XBRL →
19 Sep 2026 7.99% SECURED RATED LISTED... Interest ₹71,91,00,000.00 ₹71,91,00,000.00 Paid XBRL →
13 Sep 2026 7.68% SECURED RATED LISTED... Interest ₹57,37,00,000.00 ₹57,37,00,000.00 Paid XBRL →
17 Aug 2026 7.3050% SECURED RATED LISTED... Interest ₹7,31,00,000.00 ₹7,31,00,000.00 Paid XBRL →
31 Jul 2026 7.97% SECURED RATED LISTED... Interest ₹71,73,00,000.00 ₹71,73,00,000.00 Paid XBRL →

Source: NSE Debt Centralised Database, per SEBI LODR Reg 52(4)/60. Coverage begins 2 Aug 2026 — history accumulates as disclosures are broadcast.

07 Regulatory Filings
Credit Rating Rationale
08 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 40 2026-06-28
Rating Actions History 2 2026-08-06
Secondary-Market Trades 22 2026-10-26
Reg52(4) Payment Disclosures 10 2026-11-06

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

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Frequently Asked Questions
How many active bonds does NIIF Infrastructure Finance Limited have?

NIIF Infrastructure Finance Limited currently has 57 active bonds with coupons of 6.75% - 8.70%, maturities spanning 2026 - 2039.

What is NIIF Infrastructure Finance Limited's credit rating?

The most common current rating on NIIF Infrastructure Finance Limited's senior bonds is AAA (ICRA). Ratings on file come from ICRA.

Are NIIF Infrastructure Finance Limited's bonds secured?

Of the 57 bonds with a disclosed security status, 57 are secured (100%) and 0 are unsecured.

When do NIIF Infrastructure Finance Limited's bonds mature?

NIIF Infrastructure Finance Limited's active bonds mature between 2026 - 2039; the nearest matures in Nov 2026; the average tenure is 4.2 Yrs.

What is the average coupon on NIIF Infrastructure Finance Limited's bonds?

The average coupon across NIIF Infrastructure Finance Limited's 57 active bonds is 7.73%.

Disclaimer: This page aggregates publicly available data about NIIF Infrastructure Finance 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.