INE04UP07196 | 14.00% | Best Capital Services Limited

14.00%

YTM

₹9,898.07

Minimum investment

Monthly

Payout

30 Jun 2029

Maturity

12.75%

Coupon Rate

₹10,000

Face Value

Currently subscribed100 Units available

0% Sold

14.00% / +125 bpsYTM vs coupon

yield above stated coupon

98.9807 / 98.9807Clean / dirty price

Excluding / including accrued interest

About the Issuer

Best Capital Services Limited is an RBI-registered, non-deposit accepting NBFC incorporated in 1995. It provides mortgage and vehicle finance and is headquartered in Jaipur, Rajasthan.

Debenture trustee: Catalyst Trusteeship Limited
Issuance date: 31 Jul 2026

Why this bond?

Senior secured NCDs with first-ranking charge over receivables.
Infomerics BBB/Stable rating; adequate liquidity assessment.
Staggered maturities from September 2027 to June 2029

Monthly Interest PayoutPrincipal Paid Across Schedule

₹98,980.7Principal Invested

₹31,344.3Interest earned

₹1,31,344.3Final Payout

Interest Payout Schedule

Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date	Interest (₹)	Principal (₹)
30 Sep 2026	₹1,082.9	--
30 Oct 2026	₹1,047.9	--
30 Nov 2026	₹1,082.9	--
30 Dec 2026	₹1,047.9	--
30 Jan 2027	₹1,082.9	--
28 Feb 2027	₹1,013	--
30 Mar 2027	₹1,047.9	--
30 Apr 2027	₹1,082.9	--

Key Strengths

Capitalisation

CRAR was 33.93% at December 2025, above the regulatory minimum.

Secured portfolio

The entire loan book was secured; average MSME LTV was about 50%.

AUM growth

FY25 AUM grew about 27% to 270.20 Cr and was 273.51 Cr at December 2025.

Asset quality

GNPA and NNPA were 1.20% and 1.08% respectively at December 2025.

Experienced leadership

Promoter-MD Arun Bagadia has over two decades of finance-industry experience.

Key Risks

State concentration

Rajasthan represented about 67% of the loan portfolio at December 2025.

Moderate profitability

FY25 cost-to-income was 77.05% and ROTA was 1.44%.

Portfolio seasoning

Recent disbursements and longer loan tenors limit the observed performance history.

Low provision cover

Provision coverage was about 10% at December 2025 versus 15% in FY25.

Competitive market

The fragmented NBFC lending market includes varied-size and unorganised lenders.

IVR BBB/StableAdequate liquidityStandalone approachStable outlook

BBB/ StableMay 2026 Review

Outlook implications

Infomerics expects stable AUM growth, promoter capital infusion and improving profitability while maintaining capitalisation and asset quality.

Implications for investors

The Stable outlook indicates expected AUM growth and improving profitability while capitalisation and asset quality are maintained.
A rating downgrade triggers a 0.50% annual coupon step-up per notch under the KID.
Liquidity was assessed as adequate, with no negative cumulative ALM mismatch at December 2025.

Rating Drivers

FY 25 AUM grew about 27%

CRAR was 33.93% at Dec 2025

GNPA 1.20%; NNPA 1.08%

FY 25 ROTA was 1.44%

Rajasthan was about 67% of book

How this issuer compares to peers

Benchmark yield, balance-sheet strength, and risk indicators against similar issuers to make the credit case easier to validate.

Where it stands out

AUM is concentrated in mortgages and vehicle finance.

Mortgage finance Vehicle finance Seven-state presenceMortgages were 69.72% and vehicle finance was 30.23% of AUM at December 2025.

Invest

Units

Trade & Settlement

Settlement date

27 Aug 2026

Orders placed after 4 PM will be executed on the next business day. Weekends and exchange holidays are skipped.

Totals (For Selected Units)

Price per Unit

₹9,898.07

Investment amount

₹98,980.7

Total Interest

₹31,344.3

Total Receivable

₹1,31,344.3

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Best Capital Services Limited