Mangal Credit & Fincorp

What Mangal Credit & Fincorp does

Mangal Credit & Fincorp Limited is an RBI-registered, BSE- and NSE-listed non-banking financial company that provides four secured and unsecured retail lending products: gold loans (disbursed within 20 minutes against jewellery collateral, with zero processing fee), personal loans (from Rs 50,000, unsecured, starting at 18% per annum), SME loans (from Rs 20 lakh for short- to medium-term business needs), and loans against property (from Rs 5 lakh). The company operates through a 30-branch physical distribution network concentrated in Maharashtra, Gujarat, and Rajasthan, supplemented by a Direct Selling Agent (DSA) channel partner program with revenue sharing and a digital self-service payment portal.

The business makes money primarily through interest income on its loan book, which has grown to more than Rs 230 crores in assets under management. Gold loans are the flagship product, with the highest per-customer ticket capped at Rs 25 lakh, while higher-yield unsecured personal loans and SME/lap products contribute yield diversification. Debt capital is raised in part through rated, listed non-convertible debentures on a private placement basis (including a Rs 30 crore allotment in March 2025), and the company also holds an IRDAI Corporate Agent registration that opens an insurance distribution adjacency.

Operationally the firm is promoter-driven: founder and Managing Director Meghraj Jain (jewellery business background) chairs the board, his son Hardik Jain (Wharton-certified) serves as Executive Director overseeing daily operations, and Nilesh Jain acts as Executive Director and CFO with prior NBFC and banking experience. The company carries a BBB-/Stable rating from Infomerics, indicating moderate credit quality. There is no proprietary technology platform, no mobile app, and no AI-driven underwriting; loan processing relies on branch-based appraisal and standard documentation, which positions the firm as a traditional, branch-led retail NBFC rather than a digital lender.

Name

Mangal Credit & Fincorp

Legal name

Mangal Credit & Fincorp Limited

Website

https://mangalfincorp.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Mangal Credit & Fincorp Limited is an RBI-registered, BSE/NSE-listed NBFC offering gold loans, personal loans, SME loans, and loans against property across 30 branches in Maharashtra, Gujarat, and Rajasthan, serving retail individuals, small businesses, and property owners with assets under management exceeding Rs 230 crores.

Ownership category

akta.pro rank

Product category

Non-Banking Financial Services (Retail Lending)

NAICS

Commercial Banking (522110)

SIC

Commercial Banks, Nec (6029)

akta.pro primary industry

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

akta.pro secondary industries

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF)

Keywords

• Gold loan services
• Personal loans
• SME lending
• Loan against property
• Non-banking financial company

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices27 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Gold Loan Interest: Interest income from gold loans secured against jewellery. Loans disbursed within 20 minutes with customized repayment structures. Zero processing fee for gold loans. 24/7 loan at home service available in Mumbai and Surat areas.
2. Personal Loan Interest: Interest income from unsecured personal loans starting from ₹ 50,000 with minimal documentation and quick approval. Interest rates start from 18% per annum.
3. SME Loan Interest: Interest income from SME/Business loans starting from ₹ 20 Lakhs for small and medium enterprises to meet short to medium term business requirements including infrastructure, working capital, and machinery upgrades.
4. Loan Against Property Interest: Interest income from secured loans against residential/commercial property as collateral. Loan value starts at ₹ 5 lakh with longer tenures and lower interest rates compared to unsecured loans.
5. Non-Convertible Debentures: Debt capital raise through issuance of NCDs on private placement basis. Company has issued multiple tranches of NCDs aggregating to significant amounts, including ₹ 30 crore allotment in March 2026.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Mangal Credit & Fincorp Limited is an RBI-registered, publicly listed NBFC providing retail lending products: Gold Loans (loans disbursed within 20 minutes against gold jewellery collateral), Personal Loans (unsecured loans starting at ₹50,000), SME Loans (business loans starting at ₹20 Lakhs), and Loan Against Property (secured loans from ₹5 Lakh). The company operates through 30 branches across Maharashtra, Gujarat, and Rajasthan with assets under management exceeding ₹230 crores.

Product overview

Mangal Credit & Fincorp Limited is an RBI-registered NBFC offering a diversified portfolio of four secured lending products: Gold Loans (quick loans against gold jewellery with 20-minute disbursal), Personal Loans (unsecured loans from ₹50,000), SME Loans (business loans from ₹20 Lakhs), and Loan Against Property (secured loans from ₹5 lakh). The company operates through 30 branches across Maharashtra, Gujarat, and Rajasthan with assets under management exceeding ₹230 crores.

Differentiator

Problem solved

Functional benefit

Products and services

• Gold Loan Instant loan against gold jewellery collateral with disbursal in as little as 20 minutes, maximum value for gold, zero processing fee, and customized repayment structures. Available 24/7 with doorstep service in Mumbai and Surat. Minimum loan ₹10,000; maximum ₹25 Lakh per person; gold bars and coins not accepted. Interest rate approximately 9.6% per annum (₹0.80 per month per ₹100). Designed for retail individuals seeking quick emergency liquidity against gold holdings.
• Personal Loan Unsecured personal loans starting from ₹50,000 with minimal documentation, quick approval, and no collateral required. Interest rates start from 18% per annum with monthly billing. Approval takes 5 days upon document fulfillment. Flexible end-use covering travel, weddings, home renovation, and other personal consumption needs; easy EMI prepayment options available. Targeted at retail individuals seeking short to medium-term unsecured credit.
• SME Loan Business loans starting from ₹20 Lakhs for small and medium-sized enterprises to meet short to medium-term business requirements including infrastructure, operations expansion, plant and machinery, inventory, and working capital needs. Hassle-free documentation with quick sanction, affordable interest rates, and 7-day approval. Requires ID, address proof, business proof, income proof, and banking documents. Targeted at SMEs seeking working capital and expansion financing.
• Loan Against Property (LAP) Secured loan against residential, commercial, or land assets with loan values starting at ₹5 Lakh. Features lower interest rates compared to unsecured loans, longer tenures, and no end-use restrictions for business or personal purposes. Approval takes 10 days and is subject to legal and technical clearance of property. Requires ID, address proof, income proof, banking documents, and legal/technical documents. Easy prepayment with no penalty. Targeted at property owners seeking higher loan amounts at lower rates.

Quantifiable outcome

• Gold loan disbursed in 20 minutes
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered operational and minor.

• MUFG Intime India Private LimitedoperationalOthersRegistrar and Transfer Agent providing share registry services including processing of share transfers, dividend payments, and investor queries. Address: C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400083.
• Catalyst Trusteeship LimitedoperationalOthersDebenture Trustee managing NCD holder interests and ensuring compliance with trust deed terms for the company's non-convertible debenture programs. Located at Peninsula Business Park, Lower Parel, Mumbai.
• Infomerics RatingsminorOthersCredit rating agency that has assigned rating of BBB-/Stable for the company's bank term loans, indicating moderate safety regarding timely servicing of financial obligations.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Bajaj Finance: Largest diversified Indian NBFC spanning consumer, SME, mortgage, and commercial lending. Sets the competitive benchmark for product breadth and digital distribution in the same product categories Mangal operates in.
• Shriram Finance: Large listed NBFC with extensive SME, two-wheeler, and retail lending operations. Comparable on the SME loan product and small-business customer segment, and a relevant peer for governance benchmarks.
• Cholamandalam Investment and Finance Company: Large listed NBFC with strong vehicle finance, home loans, and SME lending books. Comparable on the SME/LAP segments where Mangal competes, and a relevant benchmark for funding cost and scale.

Direct peers

• IIFL Finance: Listed NBFC offering gold loans, home loans, and business loans through a multi-state branch network. Highly comparable on product portfolio and listed-NBFC positioning.
• Five-Star Business Finance: Listed NBFC focused on small business and SME lending with a branch-led model. Comparable on LAP and SME loan products and listed mid-cap NBFC profile.
• MAS Financial Services: Listed NBFC focused on SME and micro-enterprise lending in tier-2/tier-3 markets. Closely comparable on SME loan product and regional, underserved-market positioning.
• Muthoot Finance: India's largest gold loan NBFC with a nationwide branch network. Closest direct peer given Mangal's gold-loan-led business model and similar secured lending focus, though at vastly larger scale.
• Manappuram Finance: Diversified NBFC with gold loans as the flagship product alongside microfinance and vehicle finance. Directly comparable in product mix, customer segment, and branch-led distribution model.
• M&M Financial Services: Listed NBFC focused on rural and semi-urban lending including tractor, auto, and SME financing. Comparable on regional, underbanked customer focus and listed NBFC structure.

Emerging players

• Spandana Sphoorty Financial: Listed NBFC operating in microfinance and small business lending with a southern India base. Relevant emerging peer on the unsecured/SME lending intersection where Mangal also operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/mangalcreditandfincorp
• LinkedInlinkedin.com/company/mangal-credit-fincorp-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mangal Credit & Fincorp