Progfin Bonds
5 bonds issued by Progfin, listed across Indian platforms, currently yielding 9.5%-11.65% YTM (average 11%), rated BBB+. Compare YTM, coupon, tenure, credit rating and minimum investment before you invest.
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.
- AUM
- Rs 2,120 crore
Figures as of 30 Sep 2025. Rated by ICRA. Source: rating rationale.
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Plan your bond ladderWho is 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.
Is it safe to invest in Progfin bonds?
Progfin's listed bonds carry a BBB+ credit rating from ICRA; as of 30 Sep 2025 the company reported AUM of Rs 2,120 crore. A credit rating measures the chance of default, not price stability, and corporate bonds are not covered by DICGC deposit insurance. Read the issuer's latest rating rationale before you invest.
What yield do Progfin bonds offer right now?
As of Oct 2026, the 5 listed Progfin bonds yield between 9.5% and 11.65% (average 11%), against roughly 6-7% on a comparable bank FD.