Midland Microfin Limited is an Indian company in the BFSI industry (formerly Sajan Hire Purchase Limited) with 17 outstanding bonds (ISINs) recorded on this page. Stated coupons on its fixed-rate bonds range from 10% to 13.75% a year. 2 are cumulative bonds, which pay no periodic coupon; their contractual return is payable at maturity. Maturity dates run from 19 Nov 2026 to 4 Apr 2036. NSDL records 11 of the 17 whose terms it holds as secured. Latest credit ratings on record: Acuite A- (Negative) (action dated 22 Jan 2026); India Ratings BBB (Stable) (action dated 26 Dec 2025); CARE BBB+ (Negative) (action dated 22 Dec 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
- Midland Microfin Limited
- Formerly
- Sajan Hire Purchase Limited
- CIN
- U65921PB1988PLC008430
- LEI
- 3358002A96ME94WBAG39
- Industry
- BFSI
- Business
- Non-Banking Financial Company (NBFC)
- Ownership
- Non PSU
- ISIN issuer code
- INE884Q
- Outstanding bonds (ISINs)
- 17 (plus 12 matured)
- Stated coupons (fixed rate)
- 10% – 13.75%
- Maturity dates
- 19 Nov 2026 – 4 Apr 2036
- Secured (NSDL)
- 11 of 17
- Combined issue size of outstanding bonds
- ₹629 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.
Midland Microfin bonds: ISIN, coupon and maturity
17 outstanding bonds, by maturity date.
| ISIN | Type | Coupon | Interest paid | Allotted | Maturity | Face value | Issue size (₹ cr) | Security | Guarantee | Traded on | Rating (NSDL) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INE884Q07780 | NCD | 12% | Quarterly | 21 Aug 2025 | 19 Nov 2026 | ₹10,000 | 50.00 | Secured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q07632 | NCD | 12.45% | Half-yearly | 31 Mar 2022 | 31 Mar 2027 | ₹10,00,000 | 18.70 | Secured | None recorded | — | India Ratings BBB 26 Dec 2025 |
| INE884Q07806 | NCD | 12% | Quarterly | 20 Nov 2025 | 4 Apr 2027 | ₹10,000 | 50.00 | Secured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q07830 | NCD | Cumulative ≈11.98% a year | At maturity ₹1,515 per ₹10,000 | 28 Jan 2026 | 28 Apr 2027 | ₹10,000 | 50.00 | Secured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q07764 | NCD | 10.75% | Yearly | 27 May 2025 | 27 May 2027 | ₹1,00,000 | 50.00 | Secured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q07822 | NCD | 11.7% | Yearly | 30 Dec 2025 | 30 Jun 2027 | ₹1,00,000 | 50.00 | Secured | None recorded | BSE | CARE BBB+ 22 Dec 2025 |
| INE884Q07863 | NCD | 12% | At maturity | 5 Jun 2026 | 5 Sep 2027 | ₹10,000 | 50.00 | Secured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q07798 | NCD | 10.75% | Yearly | 30 Sep 2025 | 30 Sep 2027 | ₹1,00,000 | 100 | Secured | None recorded | BSE | Acuite A- 22 Jan 2026 |
| INE884Q07814 | NCD | 10.75% | Yearly | 27 Nov 2025 | 27 Nov 2027 | ₹1,00,000 | 50.00 | Secured | None recorded | BSE | Acuite A- 22 Jan 2026 |
| INE884Q07848 | NCD | 11.9% | Quarterly | 30 Mar 2026 | 30 Apr 2028 | ₹1,00,000 | 35.00 | Secured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q07855 | NCD | 10.65% | Yearly | 1 Jun 2026 | 1 Jun 2028 | ₹1,00,000 | 50.00 | Secured | None recorded | BSE | Acuite A- 22 Jan 2026 |
| INE884Q08291 | NCD | 13.75% | Yearly | 12 Dec 2025 | 15 Dec 2028 | ₹1,00,000 | 35.00 | Unsecured | None recorded | — | CARE BBB+ 22 Dec 2025 |
| INE884Q08309 | NCD | Cumulative | At maturity | 18 Dec 2025 | 18 Dec 2030 | ₹1,00,000 | 20.00 | Unsecured | None recorded | — | CARE BBB+ 22 Dec 2025 |
| INE884Q08317 | NCD | 10% | Quarterly | 5 May 2026 | 4 Apr 2033 | ₹1,00,000 | 1.40 | Unsecured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q08333 | NCD | 10.5% | At maturity | 5 May 2026 | 4 Apr 2033 | ₹1,00,000 | 3.30 | Unsecured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q08341 | NCD | 10.75% | Quarterly | 5 May 2026 | 4 Apr 2036 | ₹1,00,000 | 2.25 | Unsecured | None recorded | — | Acuite A- 22 Jan 2026 |
| INE884Q08325 | NCD | 11.25% | At maturity | 5 May 2026 | 4 Apr 2036 | ₹1,00,000 | 13.01 | Unsecured | None recorded | — | Acuite A- 22 Jan 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.
- Cumulative bonds pay no periodic coupon; the contractual return is payable at maturity. The amount shown is that return per unit of face value, and the yearly rate is worked out from it and the allotment and maturity dates.
- "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 · Cumulative NCD · 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.
Midland Microfin bonds: questions and answers
What bonds has Midland Microfin Limited issued?
Midland Microfin Limited has 17 outstanding bonds recorded on this page. By type, as described by NSDL: 17 NCDs. 12 further ISINs on record have passed their maturity dates and are not counted as outstanding.
What are the ISINs of Midland Microfin Limited bonds?
Its 17 outstanding bonds each have their own ISIN, for example INE884Q07780, INE884Q07632, INE884Q07806. All are listed in the bond table on this page. ISINs of this issuer begin with its issuer code, INE884Q.
What coupon rates do Midland Microfin Limited bonds pay?
Stated coupons on its fixed-rate outstanding bonds range from 10% to 13.75% a year on face value. 2 cumulative bonds pay no periodic coupon; their contractual return is payable at maturity. 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 Midland Microfin Limited bonds mature?
Its outstanding bonds have maturity dates from 19 Nov 2026 to 4 Apr 2036. The bond table lists the maturity date of each ISIN.
What is the latest credit rating of Midland Microfin Limited bonds?
NSDL India Bond Info records Acuite A- (Negative) (action dated 22 Jan 2026); India Ratings BBB (Stable) (action dated 26 Dec 2025); CARE BBB+ (Negative) (action dated 22 Dec 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 Midland Microfin Limited bonds secured, unsecured or guaranteed?
NSDL records 11 of the 17 outstanding bonds whose terms it holds as secured and 6 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.
Is Midland Microfin Limited the same company as Sajan Hire Purchase Limited?
Yes. Midland Microfin Limited was formerly known as Sajan Hire Purchase Limited; bonds issued under the earlier name are obligations of the same company. Its Corporate Identification Number (CIN) is U65921PB1988PLC008430.
Where can investors find the original disclosure documents for Midland Microfin 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 Midland Microfin 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.
What is a cumulative bond?
A cumulative bond pays no periodic coupon. The contractual return builds up over its life and is payable with the face value at maturity, so this page shows the amount payable at maturity and the yearly rate it works out to, instead of a yearly coupon.
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 5 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.


