NCD Issues 2026 — Non-Convertible Debentures
Current and upcoming NCD public issues with interest rates, tenures, and credit ratings
| Company | Open Date | Close Date | Issue Size | Interest Rate | Tenure | Rating | Status |
|---|---|---|---|---|---|---|---|
| Muthoot Fincorp Limited | 10 Mar | 31 Mar | ₹500 Cr | 9.75% p.a. | 24 months | AA- (CARE) | open |
What are NCDs (Non-Convertible Debentures)?
Non-Convertible Debentures (NCDs) are fixed-income debt instruments issued by companies to raise capital at a fixed interest rate for a specified tenure. Unlike convertible debentures, NCDs cannot be converted into equity shares. They are listed on stock exchanges (NSE/BSE) providing liquidity to investors.
NCDs offer higher interest rates than bank fixed deposits and are backed by the company's creditworthiness. Secured NCDs have specific assets pledged as collateral; unsecured NCDs carry higher risk. Always check the credit rating — CRISIL, ICRA, CARE, and INDIA RATINGS are the major rating agencies for Indian NCDs.
Interest income from NCDs is taxable as "Income from Other Sources" at applicable tax slab rates. Long-term capital gains (held over 12 months) on NCD sale are taxed at 20% with indexation benefit.