Progfin
Progfin is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 11.75%.
Data as of 11 Sept 2026
How this yield compares
About this bond
Progfin is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 11.75%. It pays a coupon of 11% and matures on 13 Jan 2027, a remaining tenure of about 4 mo. It is rated BBB+, a moderate credit-safety grade. WintWealth lists this bond with a minimum investment of ₹10K.
Its 11.75% yield is well above the market average, placing it 47th of the 265 Corporate bonds on RightBonds - firmly in the top tier. That is 1.25 percentage points above the Corporate median of 10.50% - a clear yield premium over the typical peer. Against a tenure-matched SBI fixed deposit (5.15%), it pays roughly 6.60 points more - a large gap that only makes sense once you are comfortable with the issuer's credit. Its short 4 mo horizon locks the rate for only a few years, limiting reinvestment risk. Paired with its moderate safety (BBB+) 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 Progfin (INE0MYJ07203) at 11.5%, Progfin (INE0MYJ07195) at 11.5% and Progfin (INE0MYJ07112) at 10.5%.
About Progfin
Progfin Private Limited is the lending arm of the Progcap group, a wholly owned subsidiary that began operations only in October 2022. It does anchor-led supply chain finance: rather than lending to consumers, it funds dealers and distributors against their trade with a larger anchor company, across two-wheelers, agricultural inputs, white goods, FMCG and newer consumer brands. Dealer financing is about two-thirds of the book and working capital term loans the rest. The target customer is the MSME retailer in tier-2 cities and smaller towns, reached through the Progcap network of more than 31,500 active borrowers. The group has raised roughly Rs 800 crore of equity since inception, giving a net worth of Rs 739 crore and managed gearing of 1.9 times. Profit after tax was Rs 12 crore in FY25 on total income of Rs 258 crore. This is a young lender with a short track record through a full credit cycle.
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 11.75% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 4 mo.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 11.75% | ₹1,03,834 |
| 5% slab | 11.16% | ₹1,03,649 |
| 20% slab | 9.40% | ₹1,03,089 |
| 30% slab | 8.22% | ₹1,02,713 |
At a 11% coupon, ₹1,00,000 of face value pays about ₹11,000 of interest a year. That is over the ₹10,000 Section 193 threshold, so roughly ₹1,100 a year is withheld as TDS - adjustable against your final liability, not an extra tax.
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 0.3 years, one in this bond and one in a tenure-matched SBI fixed deposit at 5.15%.
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 BBB+ credit risk is the reason for the gap.
When you get paid
Interest lands every month, with about 5 payments still to come before 13 Jan 2027, each at the 11% 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 WintWealth before investing.