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Sammaan Capital Limited: [ICRA]AA rating assigned to NCDs; Rating continues on Watch with Developing Implications 29 Oct 2025

Varishtha Property Developers Private Limited: Rating reaffirmed 29 Oct 2025

Purva Sapphire Land Private Limited: Rating reaffirmed 29 Oct 2025
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IIP growth stabilised at 4.0% in September 2025; festive season demand and GST rejig to support manufacturing volumes in October 28 Oct 2025

Domestic passenger traffic declined by a marginal 1% YoY in September 2025 27 Oct 2025

Growth in economic activity improved in September 2025; GST rate cut to further aid festive demand in October 2025 24 Oct 2025
Most Trending Reports

Persistent asset quality challenges to dampen profitability and growth expectations in FY2026 29 Aug 2025

Growth momentum sustains at a slower pace; improving operational efficiency crucial as competition intensifies 29 Aug 2025

NBFCs hit the slow lane as demand tapers 31 Jul 2025
Credit Perspective
About Credit Perspective Reports

ICRA industry research provides unique research offering for 60+ sectors in India wherein 250+ Ratings analysts
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Special Comments

IIP growth stabilised at 4.0% in September 2025; festive season demand and GST rejig to support manufacturing volumes in October 28 Oct 2025

Domestic passenger traffic declined by a marginal 1% YoY in September 2025 27 Oct 2025

Growth in economic activity improved in September 2025; GST rate cut to further aid festive demand in October 2025 24 Oct 2025
Most Trending Research

Persistent asset quality challenges to dampen profitability and growth expectations in FY2026 29 Aug 2025

Growth momentum sustains at a slower pace; improving operational efficiency crucial as competition intensifies 29 Aug 2025

NBFCs hit the slow lane as demand tapers 31 Jul 2025
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Svatantra Microfin Private Limited

Sector : Finance Sub Sectors : Microfinance Institutions

28 Oct 2025 Svatantra Microfin Private Limited: Svatantra Microfin Private Limited-Raghunandan Oct-25-CPR-28102025

Home Credit Perspective Reports Svatantra Microfin Private Limited

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Entity-Specific Rating Rationales

27 Oct 2025

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by Raghunandan Oct-25, backed by a pool of microfinance loan receivables

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by Raghunandan Oct-25, backed by a pool of microfinance loan receivables

23 Sep 2025

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by Vakratunda Sep-25, backed by a pool of microfinance loan receivables

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by Vakratunda Sep-25, backed by a pool of microfinance loan receivables

01 Sep 2025

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by MAHADEV Aug-2025, backed by a pool of microfinance loan receivables

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by MAHADEV Aug-2025, backed by a pool of microfinance loan receivables

28 Aug 2025

Svatantra Microfin Private Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Liverpool Apr-25

Svatantra Microfin Private Limited: Rating confirmed as final for PTCs backed by microfinance loan receivables issued by Liverpool Apr-25

06 Jun 2025

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by Liverpool Apr-25, backed by a pool of microfinance loan receivables

Svatantra Microfin Private Limited: Provisional [ICRA]AA+(SO) assigned to PTC Series A1 issued by Liverpool Apr-25, backed by a pool of microfinance loan receivables

29 Jan 2024

Svatantra Microfin Private Limited: Rating withdrawn

Svatantra Microfin Private Limited: Rating withdrawn

04 Dec 2023

Svatantra Microfin Private Limited: Update on entity

Svatantra Microfin Private Limited: Update on entity

18 Aug 2023

Svatantra Microfin Private Limited: Update on entity

Svatantra Microfin Private Limited: Update on entity

30 Jan 2023

Svatantra Microfin Private Limited: Rating upgraded

Svatantra Microfin Private Limited: Rating upgraded

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Entity-Specific Credit Perspective Reports

28 Oct 2025

Svatantra Microfin Private Limited

Svatantra Microfin Private Limited (SF)

29 Sep 2025

Svatantra Microfin Private Limited

Svatantra Microfin Private Limited (SF)

04 Sep 2025

Svatantra Microfin Private Limited

Svatantra Microfin Private Limited (SF)

06 Jun 2025

Svatantra Microfin Private Limited

Svatantra Microfin Private Limited (SF)

10 Mar 2023

Svatantra Microfin Private Limited

Svatantra Microfin Private Limited (Non-SF)

Ratings

Description	Short Term	Medium Term	Long Term	Issuer
PTC Series A1	--	--	Provisional [ICRA]AA+(SO)	--
PTC Series A1	--	--	Provisional [ICRA]AA+ (SO)	--
PTC Series A1	--	--	Provisional [ICRA]AA+ (SO)	--
PTC Series A1	--	--	[ICRA]AA+(SO)	--
Subordinated Debt	--	--	Withdrawn	--
PTC Series A1	--	--	*	--
Northern Arc 2019 MFI Roopkund PTC Series A1	--	--	*	--
Bank Lines	--	--	*	--

Our Analysts

Analyst 1

Abhishek Jena

022-61143432
abhishek.jena@icraindia.com

Analyst 2

Gaurav Mashalkar

+91 22 61143431
gaurav.mashalkar@icraindia.com

Sector Head

Manushree Sagar

9810290745
manushrees@icraindia.com

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Credit Quality Trends and Performance of ICRA-Assigned Ratings in H1 FY2026

Mr. K Ravichandran,Mr. Pratik Singhania

01 Oct 2025 04:00 PM

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