Can the same bond have a different price on different platforms?

Yes. On 20 Oct 2026, 66 of 73 bonds listed on more than one platform carried a different yield, with a median gap of 25 basis points. The bond is identical - the same ISIN, the same issuer, the same maturity - so the difference is in what each platform charges, not in the instrument.

How big is the difference?

The median gap measured on 20 Oct 2026 was 25 basis points and the widest was 165. On a 165 basis point gap, a one lakh rupee investment is worth about ₹1,650 a year more on the better-priced platform.

Why does the gap exist?

Platforms buy bonds into their own inventory and resell them, and each sets its own spread over what it paid. Two platforms holding the same paper bought it at different times and at different prices, and price it differently on the day. None of this is hidden - it is simply never shown side by side.

Research

The same bond costs different amounts depending where you buy it

On 20 Oct 2026, 73 bonds were listed on more than one Indian bond platform at the same time. 66 of them carried a different yield depending on the platform - a median gap of 25 basis points and a widest of 165. This page is rebuilt daily from live listings.

Bonds on 2+ platforms: 7320 Oct 2026
Priced differently: 90%66 of 73
Median gap: 25basis points
Widest gap: 165basis points

INE964R07168 is the clearest case today. It yields 14.4% on Jiraaf and 12.75% on GripInvest. Same ISIN, same issuer, same maturity date, same day - a gap of 165 basis points for identical paper.

Where the gaps are today

Bond	Rating	Best yield	Lowest yield	Gap	Worth per year
INE964R07168	BBB	14.4%Jiraaf	12.75%GripInvest	165 bps	₹163
INE734I07115	BBB+	12%GoldenPi	10.5%WintWealth	150 bps	₹454
INE09B308044	BBB+	11.9%BondScanner	10.5%WintWealth	140 bps	₹1,437
INE0JZO07057	A-	13.35%BondScanner	12.25%GoldenPi	110 bps	₹1,101
INE786X07BN6	BBB-	14.75%BondScanner	13.65%GripInvest	110 bps	₹106
INE786X07BM8	BBB-	14.5%BondScanner	13.5%GripInvest	100 bps	₹97
INE14H407116	BBB+	11.7%BondScanner	10.75%WintWealth	95 bps	₹95
INE180C07304	AA	9.17%BondScanner	8.25%WintWealth	92 bps	₹9
INE109C07147	A-	11.3%Jiraaf	10.5%WintWealth	80 bps	₹81
INE911L07162	BBB+	11.8%Groww	11%WintWealth	80 bps	₹81
INE814O07600	BBB	13.5%BondScanner	12.75%GoldenPi	75 bps	₹757
INE03K307215	A-	12.1%Jiraaf	11.38%GoldenPi	72 bps	₹723
INE016P07211	AA-	9.2%Jiraaf	8.5%WintWealth	70 bps	₹117
INE0NES07352	A-	12.4%Jiraaf	11.7%GripInvest	70 bps	₹70
INE04UP07253	BBB	13.4%Jiraaf	12.75%GripInvest	65 bps	₹65
INE916Y07073	BBB+	12%BondScanner	11.35%GripInvest	65 bps	₹65
INE296G07325	AA-	9.75%Jiraaf	9.15%GripInvest	60 bps	₹602
INE08XP07530	BBB+	13.5%BondScanner	13%GoldenPi	50 bps	₹49
INE0NES07287	BBB+	11.5%GripInvest	11%BondScanner	50 bps	₹50
INE101Q07BY9	A	10.5%GripInvest	10%WintWealth	50 bps	₹50

"Worth per year" applies the yield gap to the minimum investment on the better-priced platform. It is what the same bond pays you extra over a year for buying it in the right place. Ratings are as the platform reports them.

How this is measured

Every night RightBonds reads the public listings of six Indian bond platforms. Most bonds appear on one platform only. Where the same ISIN appears on two or more, all of the quotes are kept rather than collapsed to the best one, and the gap between the highest and lowest yield for that bond is recorded.

A bond quoted at the same yield everywhere counts as a measurement, not as a non-event: it sits in the denominator, so "90% priced differently" is a share of every shared bond, not of the ones that happened to disagree. Where a single platform lists the same bond twice, its better quote is used, because one platform disagreeing with itself is not evidence that platforms disagree with each other.

Yields are yield to maturity as each platform publishes it. No modelling, no assumptions about holding period, and nothing is inferred - if a platform did not list a bond on a given day, that day simply has no observation for it.

The series begins 28 Sept 2026. Before that RightBonds kept only the best quote for each bond and discarded the rest, so earlier gaps were observed and are gone. They cannot be reconstructed from anything, here or elsewhere. This page covers 23 days and deepens daily.

Download the data (CSV)

Companion dataset: what Indian high-yield bonds actually paid, day by day, tracked since 12 May 2026.

Citation: RightBonds, Cross-Platform Bond Price Dispersion in India, 20 Oct 2026. https://rightbonds.com/spread/