AA-rated corporate bonds in India
AA-grade bonds are judged to have a very strong capacity to repay, only marginally weaker than AAA. They are considered high safety, with low sensitivity to adverse business or economic conditions. Ratings are agency opinions that can change over time, and a rating is not a guarantee of repayment. Our directory lists 2,506 AA-rated bonds from 301 issuers, with indicative yields from 0.01% to 14.96% (median 9.06%).
- AA-rated bonds
- 2,506
- Issuers
- 301
- Median indicative yield
- 9.06%
Largest AA-rated issues
The 20 biggest AA-rated bonds by issue size (a proxy for size and liquidity). Yields are indicative, computed from disclosed terms at face value.
| Issuer | Coupon | Indicative yield | Maturity | Issue size |
|---|---|---|---|---|
| PFPiramal Finance LimitedAA+INE516Y07444 | 6.75% | 6.86% | 26 Sept 2031 | ₹19532.53 crore |
| BOBank of IndiaAA+INE084A08235 | 7.23% | 7.22% | 26 Dec 2035 | ₹10000 crore |
| JMJtpm Metal Traders LimitedAAINE02PE08036 | – | Not quoted | 30 Apr 2030 | ₹7000 crore |
| SCSammaan Capital LimitedAA+INE148I07GI9 | 8.51% | 8.85% | 26 Sept 2026 | ₹7000 crore |
| SCSammaan Capital LimitedAA+INE148I07GJ7 | 8.65% | 9.00% | 26 Sept 2026 | ₹7000 crore |
| SCSammaan Capital LimitedAA+INE148I07GL3 | 9.00% | 8.68% | 26 Sept 2026 | ₹7000 crore |
| SCSammaan Capital LimitedAA+INE148I07GM1 | – | Not quoted | 26 Sept 2026 | ₹7000 crore |
| SCSammaan Capital LimitedAA+INE148I08223 | 8.65% | 9.00% | 26 Sept 2026 | ₹7000 crore |
| SCSammaan Capital LimitedAA+INE148I08264 | – | Not quoted | 26 Sept 2026 | ₹7000 crore |
| SBState Bank of IndiaAA+INE062A08314 | 7.75% | Not quoted | 31 Dec 9999 | ₹6872 crore |
| SBState Bank of IndiaAA+INE062A08298 | 7.72% | Not quoted | 31 Dec 9999 | ₹6000 crore |
| JKJsw Kalinga Steel LimitedAAINE2QI808025 | – | Not quoted | 23 Mar 2031 | ₹6000 crore |
| MHManipal Hospitals Private LimitedAAINE03NI08014 | 0.00% | Not quoted | 12 Sept 2027 | ₹5310 crore |
| SBState Bank of IndiaAA+INE062A08413 | 8.34% | Not quoted | 31 Dec 9999 | ₹5000 crore |
| SBState Bank of IndiaAA+INE062A08462 | 7.98% | 7.97% | 31 Dec 2999 | ₹5000 crore |
| BOBank of IndiaAA+INE084A08185 | 7.54% | 7.54% | 19 Jul 2034 | ₹5000 crore |
| BOBank of IndiaAA+INE084A08201 | 7.41% | 7.40% | 29 Nov 2034 | ₹5000 crore |
| CICholamandalam Investment and Finance Company LimitedAA+INE121A07SU3 | – | Not quoted | 27 Feb 2029 | ₹5000 crore |
| MFMuthoot Finance LimitedAA+INE414G07JZ7 | – | Not quoted | 26 Jul 2029 | ₹5000 crore |
| SBState Bank of IndiaAA+INE062A08355 | 8.20% | Not quoted | 31 Dec 9999 | ₹4544 crore |
- PFPiramal Finance LimitedAA+INE516Y074446.86%Indicative yield
- Coupon
- 6.75%
- Maturity
- 26 Sept 2031
- Issue size
- ₹19532.53 crore
Taxable→ - BOBank of IndiaAA+INE084A082357.22%Indicative yield
- Coupon
- 7.23%
- Maturity
- 26 Dec 2035
- Issue size
- ₹10000 crore
Taxable→ - JMJtpm Metal Traders LimitedAAINE02PE08036Not quotedSee bond page
- Coupon
- –
- Maturity
- 30 Apr 2030
- Issue size
- ₹7000 crore
Taxable→ - SCSammaan Capital LimitedAA+INE148I07GI98.85%Indicative yield
- Coupon
- 8.51%
- Maturity
- 26 Sept 2026
- Issue size
- ₹7000 crore
Taxable→ - SCSammaan Capital LimitedAA+INE148I07GJ79.00%Indicative yield
- Coupon
- 8.65%
- Maturity
- 26 Sept 2026
- Issue size
- ₹7000 crore
Taxable→ - SCSammaan Capital LimitedAA+INE148I07GL38.68%Indicative yield
- Coupon
- 9.00%
- Maturity
- 26 Sept 2026
- Issue size
- ₹7000 crore
Taxable→ - SCSammaan Capital LimitedAA+INE148I07GM1Not quotedSee bond page
- Coupon
- –
- Maturity
- 26 Sept 2026
- Issue size
- ₹7000 crore
Taxable→ - SCSammaan Capital LimitedAA+INE148I082239.00%Indicative yield
- Coupon
- 8.65%
- Maturity
- 26 Sept 2026
- Issue size
- ₹7000 crore
Taxable→ - SCSammaan Capital LimitedAA+INE148I08264Not quotedSee bond page
- Coupon
- –
- Maturity
- 26 Sept 2026
- Issue size
- ₹7000 crore
Taxable→ - SBState Bank of IndiaAA+INE062A08314Not quotedSee bond page
- Coupon
- 7.75%
- Maturity
- 31 Dec 9999
- Issue size
- ₹6872 crore
Taxable→ - SBState Bank of IndiaAA+INE062A08298Not quotedSee bond page
- Coupon
- 7.72%
- Maturity
- 31 Dec 9999
- Issue size
- ₹6000 crore
Taxable→ - JKJsw Kalinga Steel LimitedAAINE2QI808025Not quotedSee bond page
- Coupon
- –
- Maturity
- 23 Mar 2031
- Issue size
- ₹6000 crore
Taxable→ - MHManipal Hospitals Private LimitedAAINE03NI08014Not quotedSee bond page
- Coupon
- 0.00%
- Maturity
- 12 Sept 2027
- Issue size
- ₹5310 crore
Taxable→ - SBState Bank of IndiaAA+INE062A08413Not quotedSee bond page
- Coupon
- 8.34%
- Maturity
- 31 Dec 9999
- Issue size
- ₹5000 crore
Taxable→ - SBState Bank of IndiaAA+INE062A084627.97%Indicative yield
- Coupon
- 7.98%
- Maturity
- 31 Dec 2999
- Issue size
- ₹5000 crore
Taxable→ - BOBank of IndiaAA+INE084A081857.54%Indicative yield
- Coupon
- 7.54%
- Maturity
- 19 Jul 2034
- Issue size
- ₹5000 crore
Taxable→ - BOBank of IndiaAA+INE084A082017.40%Indicative yield
- Coupon
- 7.41%
- Maturity
- 29 Nov 2034
- Issue size
- ₹5000 crore
Taxable→ - CICholamandalam Investment and Finance Company LimitedAA+INE121A07SU3Not quotedSee bond page
- Coupon
- –
- Maturity
- 27 Feb 2029
- Issue size
- ₹5000 crore
Taxable→ - MFMuthoot Finance LimitedAA+INE414G07JZ7Not quotedSee bond page
- Coupon
- –
- Maturity
- 26 Jul 2029
- Issue size
- ₹5000 crore
Taxable→ - SBState Bank of IndiaAA+INE062A08355Not quotedSee bond page
- Coupon
- 8.20%
- Maturity
- 31 Dec 9999
- Issue size
- ₹4544 crore
Taxable→
Showing the 20 largest of 2,506 AA-rated bonds. Browse AA bonds in the directory →
Frequently asked questions
What does the AA grade mean?
AA-grade bonds are judged to have a very strong capacity to repay, only marginally weaker than AAA. They are considered high safety, with low sensitivity to adverse business or economic conditions. Ratings are agency opinions that can change over time, and a rating is not a guarantee of repayment.
How many AA-rated corporate bonds are there in India?
Our directory lists 2,506 AA-rated bonds from 301 issuers, based on depository disclosures. This covers the broader rated market, not only the best-issuer set the directory browses by default.
What yields do AA-rated bonds offer?
Indicative yields can be computed for 1,974 of these bonds; they range from 0.01% to 14.96% with a median of 9.06%. These are computed from each bond's disclosed terms at face value (actual traded prices, and therefore actual yields, differ).
Who issues AA-rated bonds?
The most frequent AA-rated issuers in our data are Sammaan Capital Limited, Muthoot Fincorp Limited, Cholamandalam Investment and Finance Company Limited, Nuvama Wealth Finance Limited. The list below ranks the largest individual issues by issue size.
How fresh is this data?
Everything on this page derives from depository disclosures and the most conservative current agency grade for each bond. Figures update when the dataset refreshes, no number here is estimated or filled in.