NCD public issues in India
A public NCD issue is a company raising debt straight from investors over a fixed subscription window, at a coupon set in the prospectus rather than a price the market decides. This page tracks every issue open, upcoming and recently closed in India, with the subscription window, the credit rating and the best coupon or effective yield each one publishes. What it adds to a plain issue calendar is the other half of the comparison: where the issuer already has paper listed, its page puts the new issue's yield next to what those bonds trade at today, so you can see whether the primary issue is priced above or below the issuer's own secondary curve. Every figure comes from the sources cited on that page, and where an issuer has not published a per-series table the page says so rather than showing one. Last updated 12 Sept 2026.
Open now
Issues accepting applications today. The window closes on the date shown, or earlier if the issue is fully subscribed.
No NCD public issues open as of 20 Oct 2026.
Upcoming
Announced issues with a filed prospectus that have not opened yet. Dates can move, so check the issue page before the day.
No NCD public issues are scheduled to open as of 20 Oct 2026.
Recently closed
Issues whose subscription window shut within the last 60 days. Their pages stay up for reference and for the secondary-market comparison.
| Issuer | Subscription window | Rating | Best coupon or yield | Tenor range |
|---|---|---|---|---|
| Edelweiss Financial Services Sept 2026 issue |
21 Sept 2026 to 5 Oct 2026 | A+ | not published | not published |
| Muthoot Fincorp Sept 2026 issue |
8 Sept 2026 to 22 Sept 2026 | AA | 9.25% eff. yield | 24 to 72 months |
| Kosamattam Finance Aug 2026 issue |
18 Aug 2026 to 1 Sept 2026 | A | not published | not published |
| KLM Axiva Finvest Aug 2026 issue |
18 Aug 2026 to 1 Sept 2026 | BBB- | not published | not published |
| ICL Fincorp Aug 2026 issue |
10 Aug 2026 to 21 Aug 2026 | BBB- | not published | not published |
All earlier issues
Every issue tracked here that closed more than 60 days ago, oldest window last.
- Indel Money NCD, Aug 2026 closed 20 Aug 2026
- Paisalo NCD, Aug 2026 closed 17 Aug 2026
- Chemmanur Credits and Investments NCD, Aug 2026 closed 17 Aug 2026
Frequently asked questions
What is an NCD public issue?
It is a public offer of non-convertible debentures: a company, most often an NBFC, borrows directly from investors for a fixed subscription window instead of placing the paper privately. The coupon, tenor and interest schedule are fixed in the prospectus, applications go through ASBA with your broker or bank, the debentures are credited to your demat account on allotment and then list on an exchange.
Which NCD issues are open right now?
No NCD public issue is open as of 20 Oct 2026. Nothing is scheduled to open in the window we track either, so this page will fill up again with the next offer.
How does a public issue differ from buying a listed bond?
In a public issue everyone subscribes on the same terms at face value, and the return is the coupon the prospectus fixes. A listed bond is bought from another holder at whatever the market asks that day, so its yield to maturity depends on the price paid and moves daily. Both carry the issuer's credit risk and neither is covered by deposit insurance, which is why each issue page here shows the issuer's listed bonds alongside its new offer.
What is the minimum investment in an NCD public issue?
Across the issues tracked here the minimum application runs from ₹5,000 to ₹10,000, usually five or ten debentures of ₹1,000 face value each. The exact figure for each issue is on its own page, taken from that issue's cited sources.
Issue dates, sizes and terms are taken from the sources cited on each issue page and can change after they are published. Verify against the prospectus and the exchange filing before applying. Nothing here is investment advice.