IndiaBonds review

Is IndiaBonds safe?

India Bond Pvt Ltd is a SEBI registered stock broker (INZ000311637) enabled as an online bond platform on BSE since 5th Apr 2023 and on NSE since 25th Apr 2023, and no SEBI or exchange penalty against it was found as of 17th Oct 2026. Check it on the registry. Registration covers the platform, not the issuers (are bond platforms safe).

On 17th Oct 2026 the homepage showed Utkarsh SFB and ESAF SFB (CARE A-), Shivalik SFB (Ind-Ra A-), Manba Finance (CARE A-) and Berar Finance (CRISIL BBB+), all at 11.15% to 11.25% YTM and tagged as yield increased. From about 21st Nov 2026 SEBI's Credit Risk-o-Meter will show the lowest available rating for each.

In Apr 2025 IndiaBonds sold Satya MicroCapital's 14.20% subordinated debt (INE982X08091, CRISIL BBB+) at 14.25% YTM and promoted it as bond of the day, per an archived page. Satya's FY26 audit carries a qualified opinion and a material uncertainty on going concern, and its equity of about ₹445 cr at Mar 2026 sits below the ₹870 cr net-worth covenant on that bond; all coupons were paid through 12th Oct 2026, so it is not a default. A review site and a summary of a Mint report say IndiaBonds did not list TruCap Finance, which defaulted in Jul 2025; we could not verify this.

What do you actually pay on IndiaBonds?

IndiaBonds does not publish a per bond fee, but its T&C allow it to levy brokerage, fees or transaction charges, separate from exchange or depository fees, described as brokerage fees, platform usage fees or subscription charges as applicable. Its homepage bond cards carry a disclaimer label reading Additional Yield via Bond Spread, whose full text did not render, and whether the displayed yield includes a markup is not disclosed.

Compare the same ISIN on another platform or the exchange to see the margin (same bond, different yield).

Can you sell IndiaBonds bonds before maturity?

We could not verify IndiaBonds' exit terms. Its FAQ index has questions on how to sell a bond, whether you can sell a bond on IndiaBonds that you did not buy there, and whether unlisted bonds can be sold, but the answers load in the browser and could not be read. For how exits work across platforms, see can I sell a bond before maturity.

Where do your bonds sit?

IndiaBonds now runs its own depository participant: SEBI DP registration IN-DP-855-2026, NSDL DP ID IN305103, marketed as IB Demat New. We could not verify whether an existing demat at another DP can still be used for purchases. Its T&C say the company does not accept or handle investor funds directly; money goes only to the designated bank account of the relevant clearing corporation. See are the bonds in my own demat and do I need a new demat for every platform.

What kind of bonds does it sell?

Corporate bonds, Bond SIP, NCD IPOs, G-secs and SDLs, SGBs, 54EC capital gain bonds, BondCase baskets, tax-free, bank and PSU bonds, and corporate FDs (6 to 60 months, from ₹1,000, some powered by Upswing). The site advertises NRI and HUF access (can NRIs buy bonds, 54EC bonds).

The stated range is interest of 5% to 12.2%. The advertised minimum is ₹1,000, and ₹10,000 face value bonds are offered, such as Manba Finance at ₹9,980.42 on 17th Oct 2026 (minimum investment).

IndiaBonds also powers other storefronts. Upstox sold listed bonds in partnership with IndiaBonds from 25th Aug 2025, before its own OBPP enablement, and sbicapsec.indiabonds.com is an IndiaBonds-operated site whose link to SBI Securities is inferred from the subdomain only.

Who runs IndiaBonds, and what are its conflicts?

IndiaBonds launched in 2021 under a company incorporated in 2008. Its co-founders are Vishal Goenka, with 20+ years in fixed income including Deutsche Bank Singapore, and Aditi Mittal, who is also a director of AK Capital; a formal shareholding link to the A.K. Capital group was not verified. It raised its first external round, ₹32.5 cr from unnamed individual investors, on 25th Jun 2025.

Its T&C disclose that IndiaBonds or its related parties may do merchant banking or advisory work for issuers, may be paid by those issuers, and may buy the securities they promote. It claims 9,00,000+ registered users and ₹8,100 cr+ of bonds transacted, as on an unstated date (self-reported, read on 17th Oct 2026), and its site banner claims a 4.8 rating against 4.4 on Play Store and 4.76 on the App Store.