Security Name: 9.70% Magma General Insurance Limited 20 Mar 2034
ISIN: INE312X08034
Taxable
Tax Category
20 Mar, 2029
Call Date
(3 Yr 12 D to call)
Yearly
Interest Payment Frequency
Yes
NRI Eligibility
20 Mar, 2024
Allotment Date
NA
Put Date
20 Mar, 2027
Next Interest Payment Date
15 days
Shut Period
Both
Active on NSDL/CDSL
Non-Guaranteed
Type of Guarantee
No
Perpetual
Private Placement
Mode of Issue
Listed
Listing Details
Non Public Sector Undertaking
Type of Issuer
Quote Not Available
Dirty Price
9.7%
Coupon
Fixed Interest
Coupon Basis
Quote Not Available
Current Yield
05 Mar, 2027
Record Date
YOUR EARNING
Your Investment
Final Payout
₹0
Error Generating Cashflow 😥. We are looking into this.
*All Interest Payments will be subject to TDS (Not Applicable on Government Securities and Tax Free Bonds)
YOUR RISK
Risk gauge from Low to High Safety. Needle points near High Safety. Credit rating is AA Stable (CARE).
| Rating agency | Rating | Needle position |
|---|---|---|
| CARE | AA Stable | near High Safety |
| CRISIL | AA Stable | near High Safety |
Repayment Priority
Higher the level, higher the priority of investment repayment on default
Security with Collateral?
An investment secured with collateral helps
LIQUIDITY INDICATOR #
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Transaction Count
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Volume Traded
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Transaction Count
(since 3 months)
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Volume Traded
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ISSUER
Founded in 2009, Magma restructured in FY23–24 to meet RBI/IRDAI rules, resulting in Sanoti Properties holding 72.4% by late 2025. A pending deal will transfer 98.055% ownership to a Patanjali Ayurved-led consortium. With 96 branches nationwide, Magma’s business is driven by Motor (56%), Health (29%), and Commercial insurance (15%).
The ratio in FY25 is 6.26x and it was -2.86x in FY24, indicating decrease in the debt level due to significant and sustained improvement in its market position.
Debt/EBITDA
The ratio in FY25 is 1.69x and it was -10.46x in FY24, indicating significant increase in the debt servicing ability of the issuer due to consistent capital infusion since fiscal 2023 has strengthened its financial position and solvency, supporting its operational expansion.
Interest coverage ratio
Recent News
Mar 30, 2024 | Magma General Insurance Limited
Mar 30, 2024 | Magma General Insurance Limited
Sep 11, 2024 | Magma General Insurance Limited
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STEPS TO BUY THIS BOND
Information required for KYC
PAN Card
Bank Account Proof
Aadhaar Card
Demat Account Proof
How to exit the investment?
To know more about the Bond and the issuer, download the Information Memorandum.
To read about the reasons for the ratings assigned to the Bond, download the Rating Rationale.
Quote Not Available for purchase
Disclaimer: Investments in Debt Securities/ Municipal Debt Securities/ Securitised Debt Instruments are subject to risks including delay and/ or default in payment. Read all the Offer Related documents carefully.
Source: Issuer website, Rating Rationale, Issuer Annual Report, Information Memorandum and News from Google.
