Security Name: 9.70% Magma General Insurance Limited 28 Dec 2033
ISIN: INE312X08026
Taxable
Tax Category
28 Dec, 2028
Call Date
(3 Yr 4 Mo 5 D to call)
Yearly
Interest Payment Frequency
Yes
NRI Eligibility
28 Dec, 2023
Allotment Date
NA
Put Date
28 Dec, 2025
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
13 Dec, 2025
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
Repayment Priority
Higher the level, higher the priority of investment repayment on default
Security with Collateral?
An investment secured with collateral helps
ISSUER
Magma General Insurance Limited
Magma General Insurance Limited (Magma) [Erstwhile Magma HDI General Insurance Company Limited] was incorporated in 2009 as a joint venture between Magma Fincorp Limited, Celica Developers Private Limited, Jaguar Advisory Services Private Limited and HDI Global SE Germany.. As on November 11, 2024, company is 72.5% is held by Sanoti (Poonawalla Group company) while remaining stake is held by Celica Developers (12.3%), Jaguar Advisory (7.7%), Mr. Keki Mistry (1.8%) and others (5.7%).
The ratio in FY24 is -2.86x and it was -0.36x in FY23, indicating increased debt level due to increase in the borrowings and the finance cost of the issuer in FY24.
Debt/EBITDA
The ratio in FY24 is -10.46x and it was -31.84x in FY23, indicating decrease in the debt servicing ability of the issuer due to increase in the finance cost in FY24.
Interest coverage ratio
Recent News
Magma HDI General Insurance introduces the ‘Battery Secure Add On’ for privately owned vehicles
Mar 30, 2024 | Magma General Insurance Limited
Poonawalla Fincorp to divest stake in Magma HDI General Insurance
Mar 30, 2024 | Magma General Insurance Limited
These 2 new car insurance add-ons could cut your out-of-pocket expenses
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.
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BOND VALUE DETAILS
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Total Investment
| Cashflow for INE312X08026 |
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| Disclaimer: The actual dates and interest amounts can vary depending on Bank closures, holidays etc. Tax Deducted at Source (TDS) is applicable on interest receivable based on relevant tax regulations. You can avail TDS credit while filing your Income Tax Return (ITR). |
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| Security Name |
|---|
| 9.70% Magma General Insurance Limited 28 Dec 2033 |
| Credit Rating |
|---|
| AA Stable by CARE |
| Coupon Frequency |
|---|
| Yearly |
| Face Value |
|---|
| ₹1,00,000 |
| Coupon |
|---|
| 9.700000% |
| YTM or YTC |
|---|
| YTC |
| Call Date |
|---|
| 28/12/2028 |
| Security |
|---|
| Unsecured Subordinated Tier 2 |
| No. of Bonds |
|---|
| 1 |
| Settlement Date |
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| Principal Amount |
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| ₹NaN |
| Accrued Interest |
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| ₹0 |
| Stamp Duty |
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| ₹0 |
| Total Amount Payable |
|---|
| ₹NaN |
| Price |
|---|
| ₹NaN |
| Yield |
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| % |
| Year | Payment Date | Amount | Amount after TDS | Payout Type |
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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.
