Mahaveer Finance (India) Limited is an Indian company in the BFSI industry (formerly Madan Finance Limited and Deccan Investment Holdings Limited) with 4 outstanding bonds (ISINs) recorded on this page. Stated coupons on its fixed-rate bonds range from 11% to 11.6% a year. Maturity dates run from 18 Feb 2027 to 29 Sep 2031. NSDL records 3 of the 4 whose terms it holds as secured. Latest credit ratings on record: CARE BBB+ (Stable) (action dated 9 Jul 2026); CRISIL BBB+ (Stable) (action dated 23 Jun 2026); ICRA BBB+ (Stable) (action dated 26 Nov 2025). Verify current terms against the official documents linked on this page.
Data as of 14 Nov 2026 (snapshot 20261114-2051) · How this page is compiled
Issuer overview
- Legal name
- Mahaveer Finance (India) Limited
- Formerly
- Madan Finance Limited; Deccan Investment Holdings Limited
- CIN
- U65191TN1981PLC008555
- LEI
- 335800TY4XNO721CTJ23
- Industry
- BFSI
- Business
- Non-Banking Financial Company (NBFC)
- Ownership
- Non PSU
- ISIN issuer code
- INE911L
- Outstanding bonds (ISINs)
- 4 (plus 7 matured)
- Stated coupons (fixed rate)
- 11% – 11.6%
- Maturity dates
- 18 Feb 2027 – 29 Sep 2031
- Secured (NSDL)
- 3 of 4
- Combined issue size of outstanding bonds
- ₹235 crore
- Traded on
- BSE
Issue size is the amount each bond raised when it was issued, as recorded by NSDL. It is not the amount still outstanding today (bonds can be partly redeemed or bought back) and not the company's total debt.
Mahaveer Finance (India) bonds: ISIN, coupon and maturity
4 outstanding bonds, by maturity date.
| ISIN | Type | Coupon | Interest paid | Allotted | Maturity | Face value | Issue size (₹ cr) | Security | Guarantee | Traded on | Rating (NSDL) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INE911L07121 | NCD | 11.6% | Quarterly | 18 Feb 2025 | 18 Feb 2027 | ₹10,000 | 25.00 | Secured | Guaranteed | — | ICRA BBB+ 26 Nov 2025 |
| INE911L07162 | NCD | 11% | Quarterly | 11 Aug 2026 | 11 Aug 2029 | ₹10,000 | 70.00 | Secured | Guaranteed | BSE | CARE BBB+ 19 May 2026 |
| INE911L07154 | NCD | 11.2% | Yearly | 26 May 2026 | 26 Nov 2029 | ₹10,000 | 65.00 | Secured | Guaranteed | BSE | CARE BBB+ 9 Jul 2026 |
| INE911L08079 | NCD | 0% | Yearly | 29 Jun 2026 | 29 Sep 2031 | ₹1,00,000 | 75.00 | Unsecured | None recorded | BSE | CRISIL BBB+ 23 Jun 2026 |
Notes on this table
- Outstanding means the maturity date has not passed, according to the depository record. It does not confirm that a bond has not been redeemed early, called or bought back.
- Type, coupon, interest frequency, allotment date, issue size, security and guarantee are as recorded by NSDL India Bond Info, the depository's record of each ISIN. Search an ISIN on NSDL India Bond Info to see its full record.
- "Secured" and "Guarantee" are NSDL's classification. What the security is, the asset cover and the terms of any guarantee or co-obligor are in the offer document and the debenture trust deed; this page does not infer them.
- Prices and yields are not shown. They change with every trade: see BSE and NSE.
- Terms used in this table: ISIN · Coupon rate · Yield to maturity (YTM) · Secured NCD · Unsecured NCD · Credit rating.
Private placements and disclosure documents
| Allotted | ISIN | Redemption | Disclosure documents |
|---|---|---|---|
| 28 Aug 2026 | INE911L08079 | 29 Sep 2031 | Placement memorandum on BSE |
| 11 Aug 2026 | INE911L07162 | 11 Aug 2029 | Placement memorandum on BSE |
| 29 Jun 2026 | INE911L08079 | 29 Sep 2031 | Placement memorandum on BSE |
| 26 May 2026 | INE911L07154 | 26 Nov 2029 | Placement memorandum on BSE |
| 15 May 2025 | INE911L07139 | 25 Sep 2026 | Placement memorandum on BSE |
| 18 Feb 2025 | INE911L07121 | 18 Feb 2027 | Placement memorandum on BSE |
| 3 Jul 2024 | INE911L07113 | 3 Jul 2026 | Placement memorandum on BSE |
| 7 Jul 2021 | INE911L07030 | 21 Apr 2023 | Placement memorandum on BSE |
| 14 Aug 2020 | INE911L07055 | 14 Aug 2023 | Placement memorandum on BSE |
| 30 Jul 2020 | INE911L07048 | 30 Jul 2023 | Placement memorandum on BSE |
| 18 Jun 2020 | INE911L07022 | 18 Jun 2023 | Placement memorandum on BSE |
| 26 May 2020 | INE911L07014 | 26 May 2023 | Placement memorandum on BSE |
From BSE's list of privately placed debt. The documents are the issuer's own; the offer document and debenture trust deed are the authoritative source for each bond's terms.
Mahaveer Finance (India) bonds: questions and answers
What bonds has Mahaveer Finance (India) Limited issued?
Mahaveer Finance (India) Limited has 4 outstanding bonds recorded on this page. By type, as described by NSDL: 4 NCDs. 7 further ISINs on record have passed their maturity dates and are not counted as outstanding.
What are the ISINs of Mahaveer Finance (India) Limited bonds?
Its 4 outstanding bonds each have their own ISIN, for example INE911L07121, INE911L07162, INE911L07154. All are listed in the bond table on this page. ISINs of this issuer begin with its issuer code, INE911L.
What coupon rates do Mahaveer Finance (India) Limited bonds pay?
Stated coupons on its fixed-rate outstanding bonds range from 11% to 11.6% a year on face value. The bond table gives the coupon and interest frequency of each ISIN. The coupon is not the yield: the yield an investor earns depends on the price paid.
When do Mahaveer Finance (India) Limited bonds mature?
Its outstanding bonds have maturity dates from 18 Feb 2027 to 29 Sep 2031. The bond table lists the maturity date of each ISIN.
What is the latest credit rating of Mahaveer Finance (India) Limited bonds?
NSDL India Bond Info records CARE BBB+ (Stable) (action dated 9 Jul 2026); CRISIL BBB+ (Stable) (action dated 23 Jun 2026); ICRA BBB+ (Stable) (action dated 26 Nov 2025) on its outstanding bonds. Checked on NSDL on 7 Nov 2026. A rating is the agency's opinion and can change at any time.
Are Mahaveer Finance (India) Limited bonds secured, unsecured or guaranteed?
NSDL records 3 of the 4 outstanding bonds whose terms it holds as secured and 1 as unsecured. 3 are recorded as guaranteed. What the security is, the asset cover and the terms of any guarantee or co-obligor are set out in the offer document and the debenture trust deed; this page does not infer them.
Is Mahaveer Finance (India) Limited the same company as Madan Finance Limited?
Yes. Mahaveer Finance (India) Limited was formerly known as Madan Finance Limited and Deccan Investment Holdings Limited; bonds issued under the earlier name are obligations of the same company. Its Corporate Identification Number (CIN) is U65191TN1981PLC008555.
Where can investors find the original disclosure documents for Mahaveer Finance (India) Limited bonds?
Each ISIN's record, including its terms and rating history, is on NSDL India Bond Info (search the ISIN). The offer document (shelf prospectus, tranche prospectus or general information document and key information document) and the debenture trust deed set out the full terms; listed issuers publish them on BSE or NSE. For the private placements listed on this page, each row links to the disclosure documents on BSE.
How can investors check the current market price or yield of Mahaveer Finance (India) Limited bonds?
This page does not show prices or yields. Trades in these bonds are reported on BSE, which publish the price and yield of each trade, usually by the end of the trading day. Many corporate bonds trade rarely, so a recent price may not exist; an old trade is not a current price.
Sources and dates
- NSDL India Bond Info: bond terms, issuer identity and ratings by ISIN
- BSE and NSE: bonds that have traded, and their exchange listings
- BSE: privately placed debt securities
- Methodology: how these pages are compiled and checked
Data as of 14 Nov 2026 (snapshot 20261114-2051). Facts on this page last changed on 28 Oct 2026. Rating dates above are the agencies' action dates, which can be much older than the data date. This page is for information only. It is not investment advice, a credit rating or a recommendation to buy, sell or hold any security. Facts are taken from the issuer's own documents and the sources linked on this page; check them with the source before investing.
