JM Financial Products Limited raised money through a public issue of secured/unsecured subordinated redeemable non-convertible debentures, open from 23 Sep 2021 to 1 Oct 2021. Coupons of 7.91%–8.3% a year, tenors of 39 months–100 months, rated CRISIL AA, ICRA AA. Face value ₹1,000; minimum application ₹10,000.
JM Financial Products NCD issue: key facts
| Status | Closed |
|---|---|
| Issue opens | 23 Sep 2021 |
| Issue closes | 1 Oct 2021 |
| Coupon | 7.91%–8.3% a year |
| Tenor | 39 months–100 months |
| Interest payment | Monthly, Annual |
| Credit rating | CRISIL AA/Stable, ICRA AA/Stable |
| Instrument | Secured/Unsecured Subordinated Redeemable Non-Convertible Debentures |
| Base issue size | ₹100 crore |
| Total with green shoe | ₹1,500 crore |
| Face value | ₹1,000 |
| Minimum application | 10 (Ten) NCDs (Rs. 10,000) either taken individually or collectively across all series of NCDs and in multiple of 1 NCD (Rs.1000) thereafter |
| Lead managers | Equirus Capital Private Limited , JM Financial Limited |
| Registrar | KFIN Technologies Private Limited |
| Listing on | NSE |
| Symbol | JMFPIV |
Series, coupons and tenors
- S1: 91 day T Bill+ 315bps spread, Tenor 39 months, for Category I, II, III & IV Investors Annual Payment
- S2: 8.20%, Tenor 60 months, for Category I, II, III & IV Investors Annual Payment
- S3: 7.91%, Tenor 60 months, for Category I, II, III & IV Investors Monthly Payment
- S4: 8.30%, Tenor 100 months, for Category I, II, III & IV Investors Annual Payment
As listed by NSE. "Category" refers to the investor categories in the prospectus (individuals usually fall in Categories III and IV). Cumulative series pay the amount shown at maturity instead of periodic interest.
About JM Financial Products as a bond issuer
Before applying, see JM Financial Products Limited: every outstanding bond and NCD with its coupon and maturity, the rating history and the company's private placements.
Documents and how to apply
- Prospectus NSE, zip file
- NSE public issues
While the issue is open, apply through your bank's net banking (ASBA) or your broker's app with UPI. The NCDs are credited to your demat account and listed on the exchange after allotment.
Questions and answers
What is the interest rate on JM Financial Products NCDs?
The coupon is 7.91%–8.3% a year, depending on the series and investor category, for tenors of 39 months–100 months. The series list on this page gives the coupon, tenor and payment frequency of each option.
When does the JM Financial Products NCD issue open and close?
The issue was open from 23 Sep 2021 to 1 Oct 2021, unless closed early or extended.
What is the minimum investment in the JM Financial Products NCD issue?
10 (Ten) NCDs (Rs. 10,000) either taken individually or collectively across all series of NCDs and in multiple of 1 NCD (Rs.1000) thereafter.
What is the credit rating of JM Financial Products NCDs?
Rated CRISIL AA/Stable, ICRA AA/Stable at the time of the issue. Ratings can change; check the rating agency's latest press release.
Are JM Financial Products NCDs secured?
The issue is described as: Secured/Unsecured Subordinated Redeemable Non-Convertible Debentures. The prospectus gives the security, the asset cover and the debenture trustee.
Other NCD issues
| Issuer | Opened | Coupon | Tenor | Rating | Issue size |
|---|---|---|---|---|---|
| Muthoot Fincorp | 23 Oct 2026 | 8.56%–9.25% | 2 years–6 years | Rated by Crisil, Brickwork | ₹500 crore |
| SMC Global Securities | 5 Oct 2026 | 9.5%–10% | 2 years–5 years | ICRA A | ₹150 crore |
| Nashik Municipal Corporation | 25 Feb 2026 | 8.05% | 3 years–10 years | IND AA+, CRISIL AA+ | ₹200 crore |
| IIFL Finance | 17 Feb 2026 | — | — | — | — |
| Power Finance Corporation | 16 Jan 2026 | 6.85%–7.3% | 5 years–15 years | CRISIL AAA, CARE AAA, ICRA AAA | ₹5,000 crore |
| SMC Global Securities | 16 Oct 2025 | 9.75%–10.25% | 2 years–5 years | ICRA A | ₹150 crore |
| Surat Municipal Corporation | 6 Oct 2025 | 8% | 4 years–5 years | IND AA+, CRISIL AA+ | ₹200 crore |
| Sammaan Capital | 15 Jul 2025 | 8.42%–9.95% | 2 years–10 years | CRISIL AA, ICRA AA | ₹2,000 crore |
Updated 5 Nov 2026, 5:47 pm from the NSE and BSE public issue pages. Methodology and sources
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.
