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Entity-Specific Rating Rationales

16 Jun 2025

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new passenger vehicle loan receivables issued by Pharaoh PTC Mar 2025 Series I Trust

Bajaj Finance Ltd.: Rating confirmed as final for PTCs backed by new passenger vehicle loan receivables issued by Pharaoh PTC Mar 2025 Series I Trust

08 Apr 2025

Bajaj Finance Ltd.: [ICRA]AAA (Stable) assigned to Rs. 15,000-crore NCD programme; ratings reaffirmed

Bajaj Finance Ltd.: [ICRA]AAA (Stable) assigned to Rs. 15,000-crore NCD programme; ratings reaffirmed

11 Mar 2025

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new passenger vehicle loan receivables issued by Pharaoh PTC Mar 2025 Series I Trust

Bajaj Finance Ltd.: Provisional [ICRA]AAA(SO) assigned to PTCs backed by new passenger vehicle loan receivables issued by Pharaoh PTC Mar 2025 Series I Trust

25 Oct 2024

Bajaj Finance Ltd.: Ratings reaffirmed; [ICRA]AAA (Stable) assigned to Rs. 10,000-crore NCD programme and rating withdrawn for Rs. 452.50-crore sub-debt programme

Bajaj Finance Ltd.: Ratings reaffirmed; [ICRA]AAA (Stable) assigned to Rs. 10,000-crore NCD programme and rating withdrawn for Rs. 452.50-crore sub-debt programme

07 May 2024

Bajaj Finance Ltd.: Ratings reaffirmed; rated amount enhanced for CP programme

Bajaj Finance Ltd.: Ratings reaffirmed; rated amount enhanced for CP programme

18 Oct 2023

Bajaj Finance Ltd.: Ratings reaffirmed; rated amount enhanced

Bajaj Finance Ltd.: Ratings reaffirmed; rated amount enhanced

06 Jun 2023

Bajaj Finance Ltd.: Ratings reaffirmed; rating reaffirmed and simultaneously withdrawn for Rs. 8-crore NCDs and Rs. 99.7-crore subordinated debt

Bajaj Finance Ltd.: Ratings reaffirmed; rating reaffirmed and simultaneously withdrawn for Rs. 8-crore NCDs and Rs. 99.7-crore subordinated debt

23 Sep 2022

Bajaj Finance Ltd.: Rating withdrawn for Rs. 157.40-crore subordinated debt

Bajaj Finance Ltd.: Rating withdrawn for Rs. 157.40-crore subordinated debt

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Entity-Specific Credit Perspective Reports

06 May 2025

Bajaj Finance Ltd.

Bajaj Finance Ltd. (Non-SF)

19 Mar 2025

Bajaj Finance Ltd.

Bajaj Finance Ltd. (SF)

30 Jan 2025

Bajaj Finance Ltd.

Bajaj Finance Ltd. (SF)

23 Jun 2023

Bajaj Finance Ltd.

Bajaj Finance Ltd. (Non-SF)

14 Jul 2022

Bajaj Finance Ltd.

Bajaj Finance Ltd. (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTC -- -- [ICRA]AAA(SO) --
Non-Convertible Debenture -- -- [ICRA]AAA(Stable) --
Subordinated Debt -- -- [ICRA]AAA(Stable) --
Commercial Paper [ICRA]A1+ -- -- --
Fixed Deposit -- -- [ICRA]AAA(Stable) --

Our Analysts

Analyst 1

Arpit Agarwal

Analyst 2

Prateek Mittal

Sector Head

Karthik Srinivasan
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19 Jun 2025 04:00 PM

ICRA Webinar on Recalibrating the drive: Auto components in a changing landscape

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11 Jun 2025 04:00 PM

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