Muthoot Microfin Limited (MUTHOOTMF), one of India’s leading listed microfinance institutions, has raised ₹250 crore through the allotment of listed, rated, secured, and redeemable Non-Convertible Debentures (NCDs) on a private placement basis. This latest fund raise forms part of Muthoot Microfin’s continued strategy to strengthen its funding profile, diversify its liability mix, and optimise its overall cost of borrowing.

Strategic Funding Move

The NCDs will be listed on BSE Limited. As part of this issuance, the Company has allotted 2,50,000 NCDs of ₹10,000 each, aggregating to ₹250 crore, with a tenure of 24 months and a coupon rate of 9.25% per annum, payable monthly. This move is well within the limits approved by the Company’s Board of Directors and underscores the continued confidence of investors in Muthoot Microfin’s financial strength and growth trajectory.

CEO Commentary

Commenting on the development, Mr. Sadaf Sayeed, CEO, Muthoot Microfin Limited, said, ‘The ₹250 crore fund raise is an important step towards strengthening our funding profile and maintaining access to diversified sources of capital. Our cost of funds declined by 75 bps in FY26, and we remain focused on consistently optimising our borrowing costs. The recent upgrade in our credit rating to CRISIL AA-/Stable further strengthens our ability to access funding at competitive rates and optimise our liability mix. Over the medium term, this will also support our focus on strengthening margins while continuing to grow responsibly and serve more customers across our markets.’

The instruments are secured by a first-ranking, exclusive charge over the Company’s receivables, reinforcing the strength of the issuance.

As on 30th June 2026, the Company has 3.25 million active customers served through 1,671 branches spread across 21 states and 392 districts with a Gross Loan Portfolio (GLP) of ₹14,457.2 crore. Muthoot Microfin Limited is also part of S&P BSE Financial Services Index.

This strategic NCD issuance will enable Muthoot Microfin to further its growth plans and financial inclusion drive, ensuring continued support to women entrepreneurs and underprivileged communities across India.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Muthoot Microfin Limited

Muthoot Microfin Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Muthoot posts a 4.7% three-month gain, but softens in the last few weeks. The PEG stands at 10.23 — severely stretched. Any earnings miss could trigger a sharp de-rating. D/E reaches 3.08. High leverage in this environment is a material risk the market cannot ignore. Sellers drive 2.1x the volume of buyers. Furthermore, they controlled 18 of recent sessions versus 12 for buyers — a clear distribution signal. Revenue grows at 19.5% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Muthoot Microfin Limited.

Satin Creditcare Network Limited (SATIN) has seen its subsidiary, Satin Growth Alternatives Limited (SGAL), make its first investment in Indic Wisdom, a company dedicated to reimagining native oilseeds for modern Indian consumers. This marks the first deployment under SGAL’s strategy of providing quasi-debt and equity-linked capital to growth-stage businesses.

Strategic Investment

The investment, structured as a combination of Non-Convertible Debentures (NCDs) and Compulsorily Convertible Preference Shares (CCPS), was made on September 9, 2026. SGAL’s investment of Rs. 5 crore will be used to scale up Indic Wisdom’s manufacturing capacity, supporting the company’s ambition to expand offline distribution and overall revenue over the next two years.

Growth and Expansion

Indic Wisdom has built a strong presence on leading quick-commerce and e-commerce platforms, ensuring its products are accessible across all major metropolitan cities in India. The company’s approach centers on oilseeds and the upcycling of their by-products, converting them into highly digestible proteins and fibers, giving Indic Wisdom a distinctive efficiency and competitive advantage. With its expanding omnichannel presence and product portfolio, the company is delivering more than 2x revenue growth annually.

Aditi Singh, Director at SGAL and Chief Strategy Officer at SCNL, said: “Our first investment reflects exactly the kind of business SGAL was built to back: women-led, sustainable, category-defining, and ready to scale with the right capital structure behind it. Indic Wisdom’s work on oilseed upcycling and its early strength across both online and offline channels made this an easy conviction call. We are pleased to support Prajakta and Kaustubh as they scale manufacturing to meet their next stage of growth.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Satin Creditcare Network Limited

Satin Creditcare Network Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Satin moves sideways over three months, with neither buyers nor sellers taking control. The PEG of 0.02 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E reaches 3.46. High leverage in this environment is a material risk the market cannot ignore. Sellers drive 1.6x the volume of buyers. Furthermore, they controlled 19 of recent sessions versus 11 for buyers — a clear distribution signal. Revenue grows at 23.5% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Satin Creditcare Network Limited.

Piramal Finance Limited (PIRAMALFIN) announced today that Moody’s Ratings has upgraded its Long-Term Corporate Family Rating (CFR) and Senior Secured Debt Rating to ‘Ba2’ from ‘Ba3’, reflecting the continued improvement in the company’s financial and risk profile. This upgrade follows S&P’s upgrade to ‘BB’ from ‘BB-‘ in February 2026, marking the second upgrade from a leading international rating agency this year.

Improved Financial Health

Moody’s cited the company’s substantial reduction in legacy assets, improved capitalization, and expectation of improving profitability. The agency also noted that the company’s diversified funding profile and improving credit profile have supported lower funding costs.

Consistent Recognition

Jairam Sridharan, Managing Director & CEO, Piramal Finance, said, “The rating upgrades we have seen this year, across both domestic and international agencies, reflect the progress Piramal Finance has made over the last few years. We have steadily strengthened our balance sheet, reduced legacy exposures, improved profitability, and built a more diversified, retail-led, and technology-driven institution.”

Recently, Piramal Finance announced a ₹3,850 crore equity capital infusion, comprising ₹2,100 crore raised through a QIP and a proposed ₹1,750 crore preferential allotment of promoter warrants, subject to requisite approvals. The QIP saw participation from leading domestic and global institutional investors.

As we continue to scale, we remain focused on doing so with the same discipline, supported by a strong capital base, diversified funding, and a balance sheet that gives us the capacity to invest in our next phase of growth.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Piramal Finance Limited

Piramal Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Piramal rises 13.8% over three months, with buying pressure holding steady. D/E reaches 2.42. High leverage in this environment is a material risk the market cannot ignore. Industry-leading margins of 32.2% reflect exceptional pricing power and operational efficiency. The stock trades at 97% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 13.8% in three months on 16.9% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Piramal Finance Limited.