NCD public issue tracker
Public NCD issues let you buy corporate bonds at face value, without dealer markups. This tracker lists what's open, what's coming and what just closed — facts only, no recommendations, and every yield verifiable in our independent calculator.
Open now
No public NCD issue is in its subscription window right now. The market refreshes every few weeks — check back, or study the recent issues below to calibrate what current coupon levels look like. (Meanwhile, the sovereign menu is always open.)
Recently closed (for calibration)
Closed windows can't be applied to — but they're the best gauge of what issuers of each grade are currently paying. Many of these list on exchange within a week of allotment and can be bought in the secondary market (check the price for markups).
| Issuer | Window | Size | Rating | Tenors | Coupons |
|---|---|---|---|---|---|
| Capri Global Capital | 15 Apr 2026 – 28 Apr 2026 | ₹100 cr base + ₹400 cr green shoe (Tranche I) | see prospectus | 24–120 months | up to 9.50% p.a. depending on series |
| IIFL Finance | 17 Feb 2026 – 4 Mar 2026 | ₹500 cr base + ₹1,500 cr green shoe | see prospectus | 24–60 months, nine series | 8.37%–9.00% p.a. |
| Power Finance Corporation | 16 Jan 2026 – 30 Jan 2026 | ₹500 cr base + ₹4,500 cr green shoe | AAA — CARE, CRISIL and ICRA (Stable) | 5, 10 and 15 years (incl. cumulative options) | 6.85%–7.05% p.a. (annual series) |
Before you apply to anything here
- Run the credit through the 10-point checklist — rating rationale, security, issuer leverage, and the "why is this issuer paying this much?" question.
- Verify the series math in the YTM calculator — monthly vs annual vs cumulative series differ more than the brochure suggests, and so do their tax outcomes.
- Size it: 5% of your fixed income per issuer, regardless of rating — the history explains why.
- Apply day one — retail allotment is first-come-first-served; the application guide covers the UPI/ASBA mechanics.
Frequently asked questions
How do I apply for an NCD public issue?
Through your broker's IPO/NCD section using UPI mandate or ASBA — money stays blocked in your bank account until allotment. Retail allotment in NCD issues is generally first-come-first-served within the category, so apply on day one. Full walkthrough in our NCD application guide.
Are these issues safe because they're listed on this page?
No. This tracker lists issues factually — it is not a recommendation. Every NCD carries issuer credit risk; read the rating rationale and run our 10-point corporate bond checklist before applying. A 9%+ coupon is the price of risk, not a gift.
Where do I find the official prospectus?
On the exchanges' public-issues pages (NSE/BSE) and the issuer's website. The tranche prospectus contains the series table, security details, and financials — the rating rationale PDF on the agency's site is the fastest quality read.
Why is the effective yield different from the coupon?
Monthly-payout series compound in your hands (9% monthly ≈ 9.38% annually) and cumulative series quote maturity values. Verify any series' true yield with our bond YTM calculator before comparing options.
Factual tracker, not investment advice or a recommendation of any issue. Data compiled from public issue documents and exchange announcements; always confirm against the prospectus. See the disclaimer.