Mahindra and Mahindra Financial Services Limited is an Indian company in the BFSI industry with 31 outstanding bonds (ISINs) recorded on this page. Stated coupons on its fixed-rate bonds range from 7.05% to 9.5% a year. One has a floating or market-linked coupon. Maturity dates run from 18 Jan 2027 to 27 Feb 2035. NSDL records 23 of the 31 whose terms it holds as secured. Latest credit ratings on record: CARE AAA (Stable) (action dated 29 Sep 2026); Brickwork AAA (Stable) (action dated 10 Jun 2026); CRISIL AAA (Stable) (action dated 22 Apr 2026); India Ratings AAA (Stable) (action dated 24 Feb 2026). 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
- Mahindra and Mahindra Financial Services Limited
- CIN
- L65921MH1991PLC059642
- LEI
- 3358004E2XAMX9DYZM69
- Industry
- BFSI
- Business
- Non-Banking Financial Company (NBFC)
- Ownership
- Non PSU
- ISIN issuer code
- INE774D
- Outstanding bonds (ISINs)
- 31 (plus 65 matured)
- Stated coupons (fixed rate)
- 7.05% – 9.5%
- Maturity dates
- 18 Jan 2027 – 27 Feb 2035
- Secured (NSDL)
- 23 of 31
- Combined issue size of outstanding bonds
- ₹31,415 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.
Mahindra and Mahindra Financial Services bonds: ISIN, coupon and maturity
31 outstanding bonds, by maturity date.
| ISIN | Type | Coupon | Interest paid | Allotted | Maturity | Face value | Issue size (₹ cr) | Security | Guarantee | Traded on | Rating (NSDL) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INE774D07SW9 | NCD | 9.3% | Yearly | 18 Jan 2019 | 18 Jan 2027 | ₹1,000 | 852 | Secured | None recorded | BSE | India Ratings AAA 24 Feb 2026 |
| INE774D07VE1 | NCD | 8.25% | Yearly | 29 Jan 2024 | 25 Mar 2027 | ₹1,00,000 | 1,868 | Secured | None recorded | BSE | CRISIL AAA 22 Dec 2023 |
| INE774D07VJ0 | NCD | 8% | Yearly | 27 Apr 2023 | 27 Apr 2027 | ₹1,00,000 | 623 | Secured | None recorded | — | CRISIL AAA 25 Apr 2024 |
| INE774D07UZ8 | NCD | 8% | Yearly | 27 Apr 2023 | 27 Apr 2027 | ₹1,00,000 | 1.05 | Secured | None recorded | — | CRISIL AAA 13 Apr 2023 |
| INE774D07VK8 | NCD | 8% | Yearly | 27 Apr 2023 | 25 Jun 2027 | ₹1,00,000 | 1,050 | Secured | None recorded | BSE | CRISIL AAA 22 Apr 2025 |
| INE774D07UY1 | NCD | 8% | Yearly | 27 Apr 2023 | 25 Jun 2027 | ₹1,00,000 | 1.05 | Secured | None recorded | — | CRISIL AAA 13 Apr 2023 |
| INE774D07VL6 | NCD | 7.05% | Yearly | 15 Jul 2025 | 29 Jun 2027 | ₹1,00,000 | 100 | Secured | None recorded | — | India Ratings AAA 24 Feb 2026 |
| INE774D08MK5 | Subordinated NCD (Tier II) | 8% | Yearly | 24 Jul 2017 | 24 Jul 2027 | ₹1,000 | 447 | Unsecured | None recorded | BSE | India Ratings AAA 24 Feb 2026 |
| INE774D07UM6 | NCD | 7.9% | Yearly | 30 Aug 2022 | 30 Aug 2027 | ₹10,00,000 | 1,106 | Secured | None recorded | BSE | India Ratings AAA 24 Feb 2026 |
| INE774D07VG6 | NCD | 8.01% | Yearly | 26 Sep 2024 | 24 Dec 2027 | ₹1,00,000 | 1,250 | Secured | None recorded | — | CRISIL AAA 25 Apr 2024 |
| INE774D07VO0 | NCD | 7.9% | Yearly | 12 May 2026 | 21 Feb 2028 | ₹1,00,000 | 1,000 | Secured | None recorded | — | CRISIL AAA 22 Apr 2026 |
| INE774D07VM4 | NCD | 8.25% | Yearly | 29 Mar 2023 | 28 Mar 2028 | ₹1,00,000 | 1,125 | Secured | None recorded | BSE | CRISIL AAA 22 Apr 2025 |
| INE774D07UU9 | NCD | 8.25% | Yearly | 29 Mar 2023 | 28 Mar 2028 | ₹1,00,000 | 1,125 | Secured | None recorded | — | CRISIL AAA 6 Mar 2023 |
| INE774D07VI2 | NCD | 8.25% | Yearly | 29 Mar 2023 | 29 Mar 2028 | ₹1,00,000 | 1,125 | Secured | None recorded | BSE | CRISIL AAA 25 Apr 2024 |
| INE774D07UV7 | NCD | 8.25% | Yearly | 29 Mar 2023 | 29 Mar 2028 | ₹1,00,000 | 1,125 | Secured | None recorded | — | CRISIL AAA 6 Mar 2023 |
| INE774D07VH4 | NCD | 7.89% | Yearly | 3 Feb 2025 | 28 Apr 2028 | ₹1,00,000 | 750 | Secured | None recorded | — | CRISIL AAA 25 Apr 2024 |
| INE774D08MP4 | NCD | 9.5% | Yearly | 18 Jan 2019 | 18 Jan 2029 | ₹1,000 | 336 | Unsecured | None recorded | BSE | India Ratings AAA 24 Feb 2026 |
| INE774D07VN2 | NCD | 7.71% | Yearly | 28 Apr 2026 | 28 Mar 2029 | ₹1,00,000 | 1,000 | Secured | None recorded | BSE | CRISIL AAA 22 Apr 2026 |
| INE774D07VP7 | NCD | Floating / market-linked | Yearly | 19 May 2026 | 18 May 2029 | ₹1,00,000 | 3,000 | Secured | None recorded | — | CRISIL AAA 22 Apr 2026 |
| INE774D07VF8 | NCD | 8.18% | Yearly | 31 May 2024 | 31 May 2029 | ₹1,00,000 | 2,275 | Secured | None recorded | BSE | CRISIL AAA 25 Apr 2024 |
| INE774D07VQ5 | NCD | 7.9% | Yearly | 18 Jun 2026 | 18 Jun 2029 | ₹1,00,000 | 1,000 | Secured | None recorded | BSE | CRISIL AAA 22 Apr 2026 |
| INE774D07TG0 | NCD | 8.48% | Yearly | 8 Aug 2019 | 8 Aug 2029 | ₹10,00,000 | 2,000 | Secured | None recorded | — | India Ratings AAA 24 Feb 2026 |
| INE774D07VR3 | NCD | 7.95% | Yearly | 29 Sep 2026 | 28 Sep 2029 | ₹1,00,000 | 2,000 | Secured | None recorded | — | CARE AAA 29 Sep 2026 |
| INE774D08MT6 | Subordinated NCD (Tier II) | 7.35% | Yearly | 5 Jul 2021 | 4 Jul 2031 | ₹10,00,000 | 133 | Unsecured | None recorded | — | India Ratings AAA 24 Feb 2026 |
| INE774D07UG8 | NCD | 7.45% | Yearly | 17 Nov 2021 | 17 Nov 2031 | ₹10,00,000 | 901 | Secured | None recorded | BSE | India Ratings AAA 24 Feb 2026 |
| INE774D08MV2 | Subordinated NCD (Tier II) | 8.2% | Yearly | 21 Jul 2022 | 21 Jul 2032 | ₹1,00,00,000 | 380 | Unsecured | None recorded | — | India Ratings AAA 24 Feb 2026 |
| INE774D08MM1 | Subordinated NCD (Tier II) | 8.05% | Yearly | 24 Jul 2017 | 24 Jul 2032 | ₹1,000 | 643 | Unsecured | None recorded | BSE | India Ratings AAA 24 Feb 2026 |
| INE774D07UN4 | NCD | 8% | Yearly | 27 Sep 2022 | 27 Sep 2032 | ₹10,00,000 | 2,000 | Secured | None recorded | — | India Ratings AAA 24 Feb 2026 |
| INE774D08MW0 | Subordinated NCD (Tier II) | 8.35% | Yearly | 16 Jan 2024 | 16 Jan 2034 | ₹1,00,000 | 700 | Unsecured | None recorded | BSE | CRISIL AAA 9 Jan 2024 |
| INE774D08MX8 | Subordinated NCD (Tier II) | 8.24% | Yearly | 8 Oct 2024 | 6 Oct 2034 | ₹1,00,000 | 1,000 | Unsecured | None recorded | — | CRISIL AAA 25 Apr 2024 |
| INE774D08MY6 | Subordinated NCD (Tier II) | 8.3% | Yearly | 27 Feb 2025 | 27 Feb 2035 | ₹1,00,000 | 500 | Unsecured | None recorded | BSE | CRISIL AAA 25 Apr 2024 |
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 · Floating rate bond · Credit rating.
Private placements and disclosure documents
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.
Mahindra and Mahindra Financial Services bonds: questions and answers
What bonds has Mahindra and Mahindra Financial Services Limited issued?
Mahindra and Mahindra Financial Services Limited has 31 outstanding bonds recorded on this page. By type, as described by NSDL: 24 NCDs, 7 subordinated NCD (tier ii). 65 further ISINs on record have passed their maturity dates and are not counted as outstanding.
What are the ISINs of Mahindra and Mahindra Financial Services Limited bonds?
Its 31 outstanding bonds each have their own ISIN, for example INE774D07SW9, INE774D07VE1, INE774D07VJ0. All are listed in the bond table on this page. ISINs of this issuer begin with its issuer code, INE774D.
What coupon rates do Mahindra and Mahindra Financial Services Limited bonds pay?
Stated coupons on its fixed-rate outstanding bonds range from 7.05% to 9.5% a year on face value. One bond has a floating or market-linked coupon. 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 Mahindra and Mahindra Financial Services Limited bonds mature?
Its outstanding bonds have maturity dates from 18 Jan 2027 to 27 Feb 2035. The bond table lists the maturity date of each ISIN.
What is the latest credit rating of Mahindra and Mahindra Financial Services Limited bonds?
NSDL India Bond Info records CARE AAA (Stable) (action dated 29 Sep 2026); Brickwork AAA (Stable) (action dated 10 Jun 2026); CRISIL AAA (Stable) (action dated 22 Apr 2026); India Ratings AAA (Stable) (action dated 24 Feb 2026) 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 Mahindra and Mahindra Financial Services Limited bonds secured, unsecured or guaranteed?
NSDL records 23 of the 31 outstanding bonds whose terms it holds as secured and 8 as unsecured. None is 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.
Where can investors find the original disclosure documents for Mahindra and Mahindra Financial Services 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 Mahindra and Mahindra Financial Services 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 11 Nov 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.
