Akara Capital Advisors Private Limited is an RBI-registered NBFC offering unsecured personal loans through the StashFin digital platform. Backed by Morus Technologies Pte. Ltd., the company leverages technology-led lending to serve retail borrowers across India.
Debenture trustee
Catalyst Trusteeship Ltd
Issuance date
12 Oct 2026
Key terms
Backed by hypothecation of eligible loan receivables
Attractive fixed coupon structure of 12.00% p.a. (Series A) & 12.80% p.a. (Series B), payable montly
Proposed listing on BSE wholesale debt market, providing transferability
Monitored through a debenture trustee structure
Returns & Cashflow
Units
1
Monthly Interest PayoutPrincipal Paid Across Schedule
₹9,842.03Principal Invested
₹2,250.01Interest earned
₹12,250.01Final Payout
Interest Payout Schedule
Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date
Interest (₹)
Principal (₹)
12 Nov 2026
₹101.92
--
12 Dec 2026
₹98.63
--
12 Jan 2027
₹101.92
--
12 Feb 2027
₹101.92
--
12 Mar 2027
₹92.05
--
12 Apr 2027
₹101.92
--
12 May 2027
₹98.63
--
12 Jun 2027
₹101.92
--
Sign up to view detailed payout schedule
₹1,838 CrAUM
₹717 CrNet worth
1.6xDebt/Equity
4.3%GNPA
IndiaGeographic
Sign up to view Issuer at a glance
Issuer and structure highlights
Adequate Capitalisation
The group had a consolidated net worth of Rs. 717 crore and managed gearing of 1.6x as on March 31, 2025, supporting its current scale of operations.
Strong Parent Support
The company benefits from regular capital infusions from its parent, Morus Technologies Pvt Ltd., which has raised external commercial borrowings and infused funds into Akara Capital Advisors.
Stable Credit Rating
The proposed debentures are rated [ICRA]BBB (Stable), reflecting an adequate degree of safety regarding timely servicing of financial obligations.
Key Risks
Small Scale of Operations
Assets under management stood at Rs. 1,838 crore as on June 30, 2025, and growth was impacted by discontinuation of the Elev8 product and rundown of the co-lending portfolio.
Unsecured Loan Portfolio Risk
The company primarily provides unsecured personal loans, exposing it to higher credit risk and vulnerability in borrower repayment behaviour.
Asset Quality Pressure
Elevated write-offs have continued to pressure earnings performance, making asset quality management critical as the portfolio expands.
Sign up to view Strengths & Risk
Summarised from the issuer's disclosures and the rating rationale. Read the full offer document and rating rationale before investing.
ICRA BBB (Stable) RatedSecured Listed NCDsAUM Rs. 1,838 CroreBacked by StashFin Platform
BBB/ StableReaffirmed
Rating rationale summary
Rating reflects adequate capitalisation and parent support, offset by modest scale, unsecured lending exposure, write-offs and evolving regulatory risks.
Summary points
Adequate capitalization supported by parent funding.
Stable rating supported by funding and capital profile.
Unsecured portfolio exposes earnings to credit risk.
Small operating scale remains a rating constraint.
Outlook implications
The Stable outlook reflects expectations that the company will continue growing while maintaining prudent capitalization, funding access and control over asset quality.
Implications for investors
Investment carries moderate credit risk, reflected by the ICRA BBB (Stable) rating; timely debt servicing remains dependent on maintaining asset quality, capitalization and funding diversification.
Watch for: Ability to maintain asset quality while scaling operations and diversifying funding sources.
Rating Drivers
Strong Capital Base
Positive
Net worth Rs. 717 crore
Parent Funding Support
Positive
Regular capital infusions
Elevated Write-Offs
Negative
Higher credit risk exposure
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
Technology-led unsecured personal lending platform
Digital Personal Lending NBFC Fintech Platform Unsecured Consumer Loans Technology-Led CreditProvides unsecured personal loans via the StashFin platform, backed by a well-capitalised parent and supported by a technology-driven lending model.
Sign up to view Credit Rating Intelligence
Invest
Selected investment units: 1
Trade & Settlement
Settlement date
23 Oct 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
₹9,842.03
Investment amount
₹9,842.03
Total Interest
₹2,250.01
Total Receivable
₹12,250.01
Blogs
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Senior Secured Bond
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