Progfin
Progfin is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 11.4%.
Data as of 24 Oct 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 11.4%. It pays a coupon of 11% and matures on 19 May 2028, a remaining tenure of about 1.6 yr. It is rated BBB+, a moderate credit-safety grade. WintWealth lists this bond with a minimum investment of ₹10K.
Its 11.4% yield is well above the market average, placing it 80th of the 336 Corporate bonds on RightBonds - firmly in the top tier. That is 0.90 percentage points above the Corporate median of 10.50% - a clear yield premium over the typical peer. Against a tenure-matched SBI fixed deposit (6.50%), it pays roughly 4.90 points more - a large gap that only makes sense once you are comfortable with the issuer's credit. Its short 1.6 yr 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 (INE0MYJ07211) at 11.7%, Progfin (INE0MYJ07203) at 11.5% and Progfin (INE0MYJ07195) at 11.4%.
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 11.4% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 1.6 yr.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 11.40% | ₹1,18,452 |
| 5% slab | 10.83% | ₹1,17,503 |
| 20% slab | 9.12% | ₹1,14,672 |
| 30% slab | 7.98% | ₹1,12,798 |
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 1.6 years, one in this bond and one in a tenure-matched SBI fixed deposit at 6.50%.
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 20 payments still to come before 19 May 2028, 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.
