Wint Wealth partners with U Gro Capital to launch bonds for retail investors

Zerodha-backed alternative debt asset platform Wint Wealth on Thursday said it has tied up with U Gro Capital to launch Wint Bricks Nov21 to bring senior secured bonds for retail investors.

The size of the bond issue is Rs 50 crore and is collateralized by at least Rs 62.5 crore worth of loans, the company said in a release.

The bonds are offering XIRR (Extended Internal Rate of Return) of 10.50 per cent.

"With an aim to continue democratizing alternative assets for retail investors, we thought it was the right time to launch a new structure and further broaden the investment horizon. Set for a 27 months maturity period, the asset is fairly non-correlated with the stock market volatility as they are senior secured bonds," Wint Wealth Co-founder Ajinkya Kulkarni said.

Retail investors can directly invest in bonds with a minimum ticket size of Rs 10,000 through their demat accounts, the release said.

Incorporated in November 2019, Wint Wealth crossed an asset under management (AUM) of Rs 100 crore within 18 months. The retail investor-oriented platform allows investors to trade in high yield asset-backed securitised debt Instruments (SDIs), which enable them to earn higher returns than fixed deposits.