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NCD tracker: rates & status by issuer

Non-convertible debentures (NCDs) let you lend to a company at a fixed rate. We track the frequent retail issuers — each page shows the latest issue’s rates, tenures, credit rating and whether an issue is open right now.

Updated July 2026
No public issue openAdani Enterprises Ltd (Adani NCD) NCD

No Adani NCD public issue is open as of 9 Jul 2026, and no new (4th) tranche has been announced despite the group's roughly half-yearly cadence (Sep 2024, Jul 2025, Jan 2026) — re-checked against the Adani Enterprises newsroom and exchange corporate announcements on this date. The last (3rd) Adani Enterprises issue opened 6 Jan 2026 and closed early on 8 Jan 2026. Already-listed NCDs trade on the NSE/BSE secondary market.

Latest issue closedMuthoot Fincorp Limited NCD

No public NCD issue is open as of 9 Jul 2026. The most recent, Tranche IV (June 2026), opened 19 Jun 2026, closed 3 Jul 2026 and was slated to list on the BSE around 8 Jul 2026. Muthoot Fincorp typically launches fresh tranches through the year, so a new issue may open within weeks; check the issuer/BSE for confirmation.

No public issue openIIFL Finance Ltd NCD

No public NCD issue is open as of 9 Jul 2026; IIFL Finance's most recent issue (Tranche I) closed 4 Mar 2026 and is now listed on NSE/BSE.

No public issue openSammaan Capital Limited (formerly Indiabulls Housing Finance) NCD

No public NCD issue open as of 9 Jul 2026; the last public issue, Tranche IV, closed on 28 Jul 2025. Older Sammaan Capital NCDs continue to trade on BSE/NSE.

How to use these trackers: each page is evergreen — we update it at every new tranche rather than spinning up a throwaway page per issue, so the rates and status you see are the latest we have verified. NCD terms change with each issue; always confirm the live details and credit rating on the issuer’s own filing before applying. New to NCDs? Start with corporate bonds in India.

Frequently asked

What people ask about NCDs.

A non-convertible debenture (NCD) is a bond issued by a company — usually an NBFC — to borrow money from investors at a fixed interest rate for a fixed term. "Non-convertible" means it stays a debt claim and is repaid in cash, never converted into shares. NCDs typically pay more than a bank FD because you take on the issuer’s credit risk.

When a company opens a public NCD issue, you apply through your broker or bank using ASBA (the amount is blocked in your bank account until allotment). After the issue lists on the exchange, you can also buy the NCD on the secondary market through any demat account. Each issuer tracker here shows the current status and how to apply.

NCDs carry credit risk: if the issuer defaults, you can lose interest or principal. Secured NCDs give you a first claim on pledged assets, which improves recovery but does not guarantee it. Always check the credit rating (AAA is safest; anything below BBB- is speculative) and the issuer’s financial health before investing — the higher the coupon, the higher the risk the market is pricing in.