CRISIL BBB-/Stable13% p.a. fixed couponSenior Secured NCDs
BBB-/ StableCRISIL RatingRating rationale summary
The rating reflects CRISIL's opinion that the NCDs have a moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk.
Summary points
- CRISIL BBB-/Stable rating for the NCD programme.
- Securities carry moderate credit risk as per CRISIL.
- Senior secured redeemable non-convertible debentures.
- Proposed listing on BSE Wholesale Debt Market.
Outlook implications
Stable outlook indicates CRISIL expects the issuer's credit profile to remain broadly stable over the near to medium term.
Implications for investors
- CRISIL BBB-/Stable indicates moderate safety regarding timely servicing of financial obligations.
- Secured structure provides a defined security package for debenture holders.
- Fixed 13% annual coupon offers predictable periodic cash flows.
- Proposed BSE WDM listing may facilitate secondary market transactions.
Watch for: Any revision, withdrawal, or change in outlook by CRISIL Ratings.Rating Drivers
Established retail lending model
Retail loan book expansion
Business scale remains modest
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
Pan-India digital retail lending platform with technology-led underwriting
Digital Lending NBFC Retail Loan Focus Unsecured Lending Technology Driven NBFCThe company operates a digital lending model under the LendingPlate brand and serves borrowers across 498 cities and towns in India.