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Varthana Finance Private Limited — Bonds & BBB (CRISIL) Rating

NBFC · Financial Services

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
BBB (CRISIL)
Most common current rating on senior bonds
9 of 9 rated · CRISIL, 31 Mar 2026
Total Debt Outstanding
₹391 Cr
Across 18 instruments
Active Bonds
18
First Issue
31 Dec 2012
Latest Issue
26 Feb 2026
Maturity Range
2027 - 2040
Observation
18 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies

Latest events

Last 90 days · company disclosures to the exchanges and agency announcements. Not our assessment.
  • 6 Nov 2026 Placed on rating watch CRISIL
Issuer health card 1 item to look at
  • Current ratings CRISIL BBB
  • Rating range All current ratings are BBB (CRISIL 31 Mar 2026)
  • Rating direction, 12 months 0 upgrades, 0 downgrades
  • Watch / negative outlook 2 watch placements
  • 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  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months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 31 Mar 2026
  • Payment record No payment disclosures since 17 Jul 2026
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 1 of 18 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names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility.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 Varthana Finance Private 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
31 Dec 2012
Start of this issuer's debt program timeline
  • 18 active bonds tracked from this issuer.
  • 13 of 17 tracked bonds with a stated security status are secured. (based on 17 bonds with a disclosed security status)
  • Most recent rating action: watch by CRISIL on 6 Nov 2026.

Varthana Finance Private Limited is an NBFC in the Financial Services sector. Coupon rates on outstanding bonds range from 11.35% - 13.65%, paid quarterly. Bonds mature between 2027 - 2040.

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
18
Tracked by RetailBonds
Amount Tracked
₹391 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 16 of 18 bonds)
Avg Coupon
11.96%
Range 11.35% - 13.65%
Avg Remaining Tenure
3.1 Yrs
Nearest maturity Feb 2027
Secured
76%
13 of 17 bonds with known status
Callable
0
Of 18 bonds
Avg Spread vs G-Sec
+258 bps
Credit premium, from 1 bond with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (7 bonds).

0 2027: 7 bonds, ₹177 Cr tracked, avg coupon 11.91% 7 bonds 2027 2028: 1 bond, ₹21 Cr tracked, avg coupon 13.17% 1 bond 2028 2029: 3 bonds, ₹115 Cr tracked, avg coupon 12.03% 3 bonds 2029 2030: 2 bonds, ₹71 Cr tracked, avg coupon 11.45% 2 bonds 2030 2031: 1 bond, ₹1 Cr tracked 1 bond 2031 2032: 3 bonds, ₹5 Cr tracked 3 bonds 2032 2040: 1 bond, ₹1 Cr tracked 1 bond 2040

Security Type / Instrument Mix

  • NCD 18 bonds · 100% · ₹391 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2012: ₹1 Cr issued 2012 2013: ₹5 Cr issued 2013 2021: ₹1 Cr issued 2021 2023: ₹38 Cr issued 2023 2024: ₹62 Cr issued 2024 2025: ₹259 Cr issued 2025 2026: ₹25 Cr issued 2026 Cumulative: ₹1 Cr Cumulative: ₹6 Cr Cumulative: ₹7 Cr Cumulative: ₹45 Cr Cumulative: ₹107 Cr Cumulative: ₹366 Cr Cumulative: ₹391 Cr

Based on 16 of 18 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • BBB 11 bonds · 61%
  • Unrated 7 bonds · 39%
AgencyRatingOutlookBonds
CRISIL BBB — 5
CRISIL BBB Stable 4
Acuité BBB- NSDL record — 1
CRISIL BBB NSDL record — 1

Recent Rating Actions

—
Watch · Watch Positive
10 Aug 2026 · CRISIL
—
Update
—
Watch · Watch Positive
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE125T07329 Varthana Finance 11.50% Feb 2027 NCD 11.50% BBB (CRISIL) 2027-02-05 9.50% 2026-11-06
IN8125T07021 Varthana Finance 11.50% Feb 2027 NCD 11.50% — 2027-02-05 — —
INE125T07261 Varthana Finance 12.30% Feb 2027 NCD 12.30% BBB (CRISIL) 2027-02-27 — —
INE125T07311 Varthana Finance 11.70% Aug 2027 NCD 11.70% BBB (CRISIL) 2027-08-06 — —
INE125T07238 Varthana Finance 13.65% Sep 2027 NCD 13.65% BBB (CRISIL, NSDL record 2023) 2027-09-25 — —
INE125T07337 Varthana Finance 11.35% Sep 2027 NCD 11.35% BBB (CRISIL) 2027-09-27 — —
IN8125T07013 Varthana Finance 11.35% Sep 2027 NCD 11.35% — 2027-09-27 — —
INE125T07212 Varthana Finance 13.17% Aug 2028 NCD 13.17% BBB- (Acuité, NSDL record 2023) 2028-08-07 — —
INE125T07345 Varthana Finance 12.30% Apr 2029 NCD 12.30% BBB (CRISIL) 2029-04-17 — —
INE125T07378 Varthana Finance 12.00% Apr 2029 NCD 12.00% BBB (CRISIL) 2029-04-17 — —
INE125T07352 Varthana Finance 11.80% Jun 2029 NCD 11.80% BBB (CRISIL) 2029-06-27 — —
INE125T07279 Varthana Finance 11.40% May 2030 NCD 11.40% BBB (CRISIL) 2030-05-16 — —
INE125T07360 Varthana Finance 11.50% Dec 2030 NCD 11.50% BBB (CRISIL) 2030-12-18 — —
INE125T08020 Varthana Finance Dec 2031 CCD — — 2031-12-31 — —
INE125T08038 Varthana Finance Mar 2032 CCD — — 2032-03-28 — —
INE125T08012 Varthana Finance May 2032 CCD — — 2032-05-05 — —
INE125T08046 Varthana Finance May 2032 CCD — — 2032-05-06 — —
INE125T08053 Varthana Finance Jun 2040 CCD — — 2040-06-28 — —
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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.

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)
11
Avg. Yield (Last 30 Days)
9.59%
06 Regulatory Filings
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 11 2026-03-31
Rating Actions History 3 2026-11-06
Secondary-Market Trades 41 2026-11-06
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 Varthana Finance Private Limited have?

Varthana Finance Private Limited currently has 18 active bonds with coupons of 11.35% - 13.65%, maturities spanning 2027 - 2040.

What is Varthana Finance Private Limited's credit rating?

The most common current rating on Varthana Finance Private Limited's senior bonds is BBB (CRISIL). Ratings on file come from CRISIL.

Are Varthana Finance Private Limited's bonds secured?

Of the 17 bonds with a disclosed security status, 13 are secured (76%) and 4 are unsecured.

When do Varthana Finance Private Limited's bonds mature?

Varthana Finance Private Limited's active bonds mature between 2027 - 2040; the nearest matures in Feb 2027; the average tenure is 3.1 Yrs.

What is the average coupon on Varthana Finance Private Limited's bonds?

The average coupon across Varthana Finance Private Limited's 18 active bonds is 11.96%.

Disclaimer: This page aggregates publicly available data about Varthana Finance Private 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.