9.65%. If the rating of the issuer or debentures is downgraded from the current A+ by any rating agency, the coupon rate will be increased by 0.25% for each notch of downgrade. If the rating of the issuer or debentures is upgraded by any rating agency, the coupon rate will be increased by 0.25% for each notch of downgrade until the initial rating is restored.

Vistaar Financial Services Private Limited

Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.