NCD public issue tracker
Public NCD issues let you buy corporate bonds at face value, without dealer markups. This tracker lists what's open, what's coming and what just closed. Facts only, no recommendations, and every yield can be checked in our independent calculator.
Open now
Indel Money OPEN · closes 31 Aug 2026
| Window | 18 Aug 2026 – 31 Aug 2026 |
| Size | ₹250 cr base + ₹250 cr retention, up to ₹500 cr |
| Rating | IND A-/Stable — India Ratings |
| Security | Secured |
| Tenors | 400 days, 24, 36, 60 and 72 months |
| Coupon range | 9.00%–11.50% p.a.; effective yields up to 12.25% p.a. |
| Minimum | ₹10,000, then multiples of ₹1,000 |
| Listing | BSE |
Gold-loan NBFC, with an option to close early. Rating and coupon confirmed from the issuer's own prospectus page once the issue opened.
Kosamattam Finance OPEN · closes 1 Sept 2026
| Window | 18 Aug 2026 – 1 Sept 2026 |
| Size | ₹100 cr base |
| Rating | A/Stable — India Ratings |
| Security | Secured |
| Tenors | 24, 36, 42, 50, 60 and 84 months |
| Coupon range | effective yields up to 10.41% p.a. |
| Minimum | ₹10,000 (10 NCDs) |
| Listing | See prospectus |
Kerala gold-loan NBFC and a frequent issuer, back with another tranche roughly seven weeks after the May 2026 one closed.
KLM Axiva Finvest OPEN · closes 1 Sept 2026
| Window | 18 Aug 2026 – 1 Sept 2026 |
| Size | ₹50 cr base + ₹50 cr retention, up to ₹100 cr |
| Rating | BBB-/Stable — Acuité Ratings |
| Security | Secured |
| Tenors | 400 days, 16, 18, 24, 36, 60 and 79 months |
| Coupon range | 9.50%–11.00% p.a.; effective yields 9.92%–11.30% p.a. |
| Minimum | ₹10,000 (10 NCDs) |
| Listing | See prospectus |
Kerala-based NBFC, its 14th public NCD issue. One rung below investment-grade-plus, priced accordingly against the AA-zone issues on this page.
Recently closed (for calibration)
You can't apply to a closed window, but they're the best gauge of what issuers of each grade are currently paying. Many of these list on exchange within a week of allotment and can be bought in the secondary market (check the price for markups).
| Issuer | Window | Size | Rating | Tenors | Coupons |
|---|---|---|---|---|---|
| ICL Fincorp | 10 Aug 2026 – 21 Aug 2026 | ₹50 cr | BBB-/Stable — CRISIL | 13, 24, 36, 60 and 72 months, ten series | effective yields up to 12.25% p.a. |
| Paisalo Digital | 7 Aug 2026 – 20 Aug 2026 | ₹300 cr Tranche I, within a ₹900 cr shelf | AA/Stable — Brickwork | 18, 24, 36 and 60 months | 9.00%–10.47% p.a., monthly or annual payout by series |
| Chemmanur Credits and Investments | 4 Aug 2026 – 17 Aug 2026 | ₹75 cr base | BBB/Stable — India Ratings | 400 days, 18, 24, 36, 61 and 72 months | up to 12.25% p.a. |
| Muthoot Fincorp | 19 Jun 2026 – 3 Jul 2026 | ₹200 cr base + ₹400 cr oversubscription retention (Tranche IV) | AA/Stable — CRISIL and Brickwork | 24, 36, 60 and 72 months, twelve series | 8.51%–9.25% p.a.; effective yields 8.84%–9.25% |
| Edelweiss Financial Services | 8 Jun 2026 – 12 Jun 2026 | ₹150 cr base; raised ₹300 cr | A+/Stable — CRISIL | 24, 36, 60 and 120 months | 8.65%–10.00% p.a. |
| Kosamattam Finance | 18 May 2026 – 1 Jun 2026 | ₹150 cr base | A/Stable — India Ratings | 24, 36, 42, 50, 60 and 84 months | effective yields up to 10.41% p.a. |
Before you apply to anything here
- Run the credit through the 10-point checklist: rating rationale, security, issuer leverage, and the "why is this issuer paying this much?" question.
- Check the series math in the YTM calculator. Monthly, annual and cumulative series differ more than the brochure suggests, and so do their tax outcomes.
- Size it: 5% of your fixed income per issuer, regardless of rating. The history explains why.
- Apply on day one. Retail allotment is first-come-first-served; the application guide covers the UPI/ASBA mechanics.
Frequently asked questions
How do I apply for an NCD public issue?
Through your broker's IPO/NCD section, using UPI mandate or ASBA. Money stays blocked in your bank account until allotment. Retail allotment in NCD issues is generally first-come-first-served within the category, so apply on day one. Full walkthrough in our NCD application guide.
Are these issues safe because they're listed on this page?
No. This tracker lists issues factually; it is not a recommendation. Every NCD carries issuer credit risk, so read the rating rationale and run our 10-point corporate bond checklist before applying. A 9%+ coupon is the price of risk, not a gift.
Where do I find the official prospectus?
On the exchanges' public-issues pages (NSE/BSE) and the issuer's website. The tranche prospectus contains the series table, security details and financials. The rating rationale PDF on the agency's site is the fastest quality read.
Why is the effective yield different from the coupon?
Monthly-payout series compound in your hands (9% monthly ≈ 9.38% annually) and cumulative series quote maturity values. Verify any series' true yield with our bond YTM calculator before comparing options.
Factual tracker, not investment advice or a recommendation of any issue. Data compiled from public issue documents and exchange announcements; always confirm against the prospectus. See the disclaimer.