Dvara Kshetriya Gramin Financial Services Private Limited
ISIN: INE179P07654
13.50%
YTM
₹99,859.23
Minimum investment
Monthly
Payout
30 Sep 2028
Maturity
12.50%
Coupon Rate
₹1,00,000
Face Value
Currently subscribed20 Units available
0% Sold
13.50% / +100 bpsYTM vs coupon
yield above stated coupon
99.6195 / 99.8593Clean / dirty price
Excluding / including accrued interest
About the Issuer
Dvara Kshetriya Gramin Financial Services Private Limited was set up by Dvara Trust to ensure complete access to financial services in remote rural areas through a unique customer-centric model.
Debenture trustee
Beacon Trusteeship Limited
Issuance date
30 Sep 2026
Key terms
Secured by a first-ranking exclusive charge on book debts and loan receivables.
Offers a fixed 12.50% p.a. interest rate with monthly coupon payments.
CRISIL BBB+/Stable rating indicates a moderate degree of safety.
Maintains a minimum security cover of 1.10x on the outstanding principal amounts.
Returns & Cashflow
Units
1
Monthly Interest PayoutPrincipal Paid Across Schedule
₹99,859.23Principal Invested
₹22,412.96Interest earned
₹1,22,412.96Final Payout
Interest Payout Schedule
Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date
Interest (₹)
Principal (₹)
30 Nov 2026
₹1,061.64
--
30 Dec 2026
₹1,027.4
--
30 Jan 2027
₹1,061.64
--
28 Feb 2027
₹993.15
--
30 Mar 2027
₹1,027.4
--
30 Apr 2027
₹1,061.64
--
30 May 2027
₹1,027.4
--
30 Jun 2027
₹1,061.64
--
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Volatile — GNPAAsset quality
₹2,201.91 CrAUM
23.92%Capital adequacy
11 states, strong rural focusGeographic
8.53%GNPA
₹424.15 CrNet worth
3.91%NNPA
₹1.18 CrPAT
31.35%Promoter holding
Financial Trend
YoY -2.2% ↓
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Issuer and structure highlights
Experienced Management
The founders and management have extensive experience in financial inclusion, rural financing, and the NBFC sector.
Adequate Capitalisation
Maintains an adequate capital position with regular equity infusions, supporting operations and providing a buffer.
Diversifying Portfolio
Pivoting towards non-microfinance segments like enterprise loans and expanding geographically to reduce risk.
Key Risks
Volatile Asset Quality
Inherent exposure to borrowers with weak credit profiles and sensitivity to socio-political disruptions impacts earnings.
Regional Concentration
Despite recent expansion, operations remain regionally concentrated, exposing the company to local disruptions.
Inherent Sector Risks
The microfinance sector is highly susceptible to natural calamities, regulatory changes, and localized protests.
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Summarised from the issuer's disclosures and the rating rationale. Read the full offer document and rating rationale before investing.
AUM of Rs 1,922 crore as on March 31, 2026Tier I CAR of 17.8% and Overall CAR of 24.3% as on March 31, 2026Raised 3 million euros (~Rs 26 crore) in May 2025
BBB+
MODERATE CREDIT RISKCRISIL BBB+
Rating agencyCRISIL
Senior Secured
Rating as of 5 Nov 2026
The Credit risk-o-meter is based on evaluation of the credit risk of the issuer and does not constitute investment advice or a recommendation to invest. Investments in debt securities are also subject to market and liquidity risks.
Rating rationale summary
CRISIL reaffirmed its 'Crisil BBB+/Stable' rating, reflecting the founders' extensive experience and adequate capitalization, which are offset by modest asset quality and regional concentration.
Summary points
Experienced board and management profile
Adequate capitalisation with steady equity infusions
Modest asset quality and profitability
Small scale of operations with regional focus
Rating history timeline
Dec 2023
Credit Rating reaffirmed
Dec 2024
Credit Rating reaffirmed
Jul 2025
Credit Rating reaffirmed
Jul 2026
Rating reaffirmed at Crisil BBB+/Stable
Outlook implications
The Stable outlook indicates that Dvara KGFS is expected to maintain an adequate capital position and benefit from the experience of its promoter and management in the micro lending industry.
Implications for investors
The rating reflects an expectation that the company will maintain its adequate capital position and benefit from its management's deep experience in the micro-lending industry.
Watch for: Improvement in asset quality, sustained earnings profile, and timely equity infusions.
Rating Drivers
Management
Positive
Experienced board & team
Capitalisation
Positive
Adequate capital position
Asset Quality
Negative
Volatile GNPA and NNPA
Operations
Negative
Small scale, regional focus
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
Strong focus on rural financial inclusion
NBFC. Microfinance Rural lendingDvara KGFS distinguishes itself through a unique branch-based Wealth Management approach catering to underserved rural markets.
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Invest
Selected investment units: 1
Trade & Settlement
Settlement date
06 Nov 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
₹99,859.23
Investment amount
₹99,859.23
Total Interest
₹22,412.96
Total Receivable
₹1,22,412.96
Regulatory Assurance Panel
Credit Rating
Debenture Trustee
General Information Document
Issuer Financials
Key Information Document
Rating Letter
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