Mufin Green Finance Limited received final listing approval from the Global Securities Market of India International Exchange (IFSC) Limited (India INX) for its USD 6 million senior notes due 2029. The debt securities will commence trading on September 22, 2026.

The issuance follows the allotment of up to 600 senior, rated, listed, United States Dollar denominated non-convertible bonds announced on September 11, 2026. The company disclosed this development under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bond specifics and terms

The notes carry a coupon rate of 4.50% + SOFR and mature on September 11, 2029. The issue is standalone in nature with a minimum denomination of 10 bonds. CareEdge has assigned a credit rating of B/Stable to the instrument.

Listing details

The securities are listed on the Global Securities Market segment of India INX. The circular dated September 21, 2026, confirms the availability of these bonds for trading on the exchange platform. Participants and trading members were notified of the listing effective from Tuesday, September 22, 2026.

Mufin Green Finance reported assets under management (AUM) of ₹1,541.17 crore for the financial year ended March 31, 2026, while maintaining a gross non-performing asset (NPA) ratio of 1.94%. The company’s capital adequacy ratio stood at 32.08%, reflecting its financial position as a listed non-banking financial institution focused on green mobility and clean energy financing.

Portfolio and Asset Quality

The NBFC serves a customer base exceeding 1,93,016 active customers across India, excluding Jammu & Kashmir and Ladakh. During the fiscal year, the company added over 71,051 new customers through its diversified financing portfolio, which includes electric vehicles, solar products, and Mediclaim premium financing. Key operational markets include Kerala, Maharashtra, and Uttar Pradesh.

Asset quality metrics remained stable with a net NPA ratio of 1.65%. The company operates with a paid-up capital of ₹19,81,62,188 and generated a turnover of ₹5,74,69,84,026, against a net worth of ₹2,10,28,69,588.

Employee Metrics

Mufin Green Finance employed 420 permanent employees at the end of FY26, comprising 353 males and 67 females. The employee turnover rate for the year was 48% overall, with male turnover at 51% and female turnover at 38%. This compares to a total turnover rate of 51.4% in FY25 and 37% in FY24.

Sustainability and Governance

The company reported total energy consumption of 222 GJ from non-renewable sources, down from 224.69 GJ in the previous year. Scope 3 greenhouse gas emissions decreased significantly to 9,672.97 metric tonnes of CO2 equivalent from 16,173.38 metric tonnes in FY25. The company did not report any Scope 1 emissions.

Corporate social responsibility initiatives included an E-Rickshaw School/Mobile School project benefiting 300 persons, all from vulnerable and marginalised groups. The board of directors comprises six members, with women holding 33.33% of the seats. No regulatory penalties or fines were recorded during the fiscal year.