This bond is no longer available. It has matured, sold out, or been delisted from the platforms we track, last seen on 8 Sept 2026. The details below are kept as a record of the issue. Compare bonds available now →
Andhra Pradesh State Beverages Nov ’33
Andhra Pradesh State Beverages Nov ’33 is a corporate bond issued by a company to raise debt from investors, was last listed at a yield to maturity (YTM) of 8.3%.
Data as of 8 Sept 2026
How this yield compares
About this bond
Andhra Pradesh State Beverages Nov ’33 is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 8.3%. It pays a coupon of 9.15% and matures on 30 Nov 2033, a remaining tenure of about 7.1 yr. It is rated AA, a high credit-safety grade. BondScanner lists this bond with a minimum investment of ₹10.6L.
Its 8.3% yield is solid for its risk band, toward the lower end at 284th of 319 Corporate bonds. That trails the Corporate median of 10.50% by 2.20 points, so the trade-off is lower yield for whatever else this issuer offers. A comparable SBI fixed deposit yields about 6.55%, so this bond adds roughly 1.75 points for taking on credit risk. Its long 7.1 yr horizon locks in today's yield well into the future - useful if rates fall, a drag if they rise. Paired with its very high safety (AA) rating, that leans toward the safety-first end. Compare it against similar bonds on RightBonds before investing.
Investors comparing this bond often also look at Andhra Pradesh State Beverages (INE0M2307370) at 8.35%, Muthoot Fincorp (INE549K08590) at 10.5% and Muthoot Fincorp (INE549K08632) at 10.4%.
About Andhra Pradesh State Beverages
Andhra Pradesh State Beverages Corporation Limited (APSBCL) is a Government of Andhra Pradesh company incorporated on 12 August 2015 to carry on wholesale and retail trade in alcohol on behalf of the state, with business activity commencing in May 2016. It is fully owned by the state government and is the sole liquor distribution agent for Andhra Pradesh, operating through 29 wholesale depots. Under the liquor policy effective 12 October 2024, retail sale of liquor has been handed to private players while the wholesale liquor business remains APSBCL's exclusive privilege. The corporation's bonds carry an unconditional and irrevocable pre-default guarantee from the Government of Andhra Pradesh, and are further supported by a structured payment mechanism in which pledged net revenue from liquor sales flows into escrowed bond servicing accounts, with a pre-funded two-quarter debt service reserve account maintained in favour of the debenture trustee. India Ratings rates the non-convertible debentures IND AA(CE) with a Stable outlook, with an unsupported rating of IND A, and expects the pledged revenue to cover debt service payments by at least 1.3 times. The corporation reported total income of Rs 13,982 crore in FY25. This bond is issued under the legal name Andhra Pradesh State Beverages Corporation Limited.
Bond details
What you keep after tax
Interest on a listed corporate bond is added to your income and taxed at your slab, so the 8.3% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 7.1 yr.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 8.30% | ₹1,76,320 |
| 5% slab | 7.89% | ₹1,71,570 |
| 20% slab | 6.64% | ₹1,57,975 |
| 30% slab | 5.81% | ₹1,49,435 |
At a 9.15% coupon, ₹1,00,000 of face value pays about ₹9,150 of interest a year, under the ₹10,000 Section 193 threshold, so no TDS is withheld.
Slab rates only - surcharge and cess are not included, and the figures assume you hold to maturity. Sold on the exchange after 12 months instead, the gain is taxed as long-term capital gains at 12.5%. Not tax advice.
Against a fixed deposit, in rupees
Same ₹1,00,000, same 7.1 years, one in this bond and one in a tenure-matched SBI fixed deposit at 6.55%.
Bond figure compounds the yield annually; the FD compounds quarterly, as a cumulative bank FD does. Both are pre-tax and assume the bond is held to maturity and the issuer pays in full - the AA credit risk is the reason for the gap.
When you get paid
Interest lands 4 times a year, in Mar, Jun, Sep, Dec, with about 28 payments still to come before 30 Nov 2033, each at the 9.15% coupon rate.
Payment months come from the issuer's schedule. Exact dates within the month, and the amount per payment, depend on the face value of the units you buy - check the term sheet on BondScanner before investing.
