Any individual over the age of 18 years having a valid PAN and Aadhaar card can invest. Note: If you are a corporate investor, please reach out to us at support@gripinvest.in for making investments.

It’s really simple, you can just click here to sign-up or sign-in and complete our simple KYC process. Then invest in any available opportunity listed on the Assets page after reviewing the details about the same.

You can refer to below definition to understand more about these terms: IRR (Internal Rate of Return): IRR is the annualized percentage return an investment is expected to generate, indicating its overall profitability. YTM (Yield to Maturity): YTM is the anticipated annual return on a bond if held until it matures, factoring in its current market price and interest payments. ROI (Return on Investment): ROI is a percentage that measures the profitability of an investment by comparing its net gain or loss to the initial cost of the investment.

We evaluate 3 major aspects for any potential corporate leasing partner:

• Financials: Analysis of annual reports and MIS for previous 12-18 months to understand scale, growth of business, unit economics, profitability patterns, current cash position and outstanding debts and loans;
• Corporate Profile: Professional backgrounds of Founders/ CXOs, shareholders, ongoing litigations as well as reference calls with key customers and other stakeholders;
• Business Performance: Review of key contracts, industry trends, asset and OEM quality to enable estimation of future performance for the lessee.

Most of the time it will be monthly or quarterly. However, it may vary from asset to asset and hence you are requested to check the asset's detail page for specific information.

You must complete KYC and choose from available investment opportunities according to your objective. Once you have finalized the opportunity, you can simply click on it and proceed with payment during market hours. You need to complete the process of payment within one working day to start earning fixed-income returns. You will get the payment confirmation as well as an investment order successful communication from us. You can also check your investment order's journey details from the portfolio page.

The fee charged by Grip varies depending on the opportunity and the asset class. These details are specified as a part of the opportunity-specific details made available on the deal page. We urge you to read all opportunity specific details thoroughly before investing.

No, the returns displayed are not guaranteed by Grip or any other third party. However, the returns specified indicate the amounts/ IRR (as the case may be) expected to be paid out to the investors assuming that all payments are made. We would request you to also refer to the information memorandum and the credit rating rationale made available for each of the Corporate Bonds, LeaseX, InvoiceX, LoanX and/or BondX opportunities.

Your returns will be credited directly to your demat linked bank account. You can find demat linked bank details on your CMR/CML which you have submitted to us while completing KYC.

The returns provided to you are on a pre-tax basis. There may be a TDS deduction on returns that depends on deal you have invested on.

The securities for your investment order will be transferred to your DEMAT account. Since these are listed securities, you can sell them to any other person through the exchange mechanism. Please note that there may be a limited secondary market for these securities and Grip does not guarantee that you will find a buyer. You can contact your dedicated Grip relationship manager to explore other options in case you need to sell your securities.

We take nominee details while registering you on the platform in the process of e-KYC. In a case, when the investor is not available for redeems, the nominee receives the returns.

All the trades and securities are traded via exchange and funds are directly transferred to Clearing Corporation. You will receive refund in case the amount is not paid via registered bank account or there is discrepancy in the amount paid vs amount payable. Grip does not control any flow of funds and all decisions are on discretion of the exchange.

Yes, once you purchase any Corporate Bond or SDI securities using the Grip platform, these securities will be transferred to your Demat account. Further, since these are listed securities, you can sell them to any other person through the exchange mechanism. Please note that there may be a limited secondary market for these securities and Grip does not guarantee that you will find a buyer.

You should typically expect to receive the securities on the next working day from the date on which you had placed your investment order (payment should be completed).

a) SDIs (LeaseX, LoanX, BondX, InvoiceX): Investment in SDIs is reflected in the investor’s Demat account with their respective Stock Brokers. The returns are directly credited to the investor’s bank account by the Issuer managing that Securitised Debt Instrument (SDI) after deducting TDS as applicable (currently 25% for individuals and 30% for non individuals). The returns have two components- (a) Principal repayment (tax free in the hands of investor) and (b) Interest payment (to be offered to tax by the investor). The TDS deducted by the Issuer can be adjusted against the tax liability so calculated.

b) Corporate Bonds: Investments in Corporate Bonds directly reflect in the investor’s Demat account with their respective Stock Brokers. The returns are directly credited to the investor’s bank account by the Issuer of the Corporate Bond after deducting TDS as applicable (currently 10%). All the returns in the form of (a) interest and (b) any profit/loss on sale of bonds is taxable in the hands of the investor as “Income from Other Sources” and "Capital Gains" respectively. Please refer to the statement shared by the Issuer Corporate or your stock broker for details around the same.

In case your Total Income in any year is less than the threshold limits under the Income Tax rules, you can apply for a lower / nil rate of TDS with the Issuer.

a) Corporate Bonds- you may apply to the Issuer Corporate in the prescribed Form 15G or 15H. You may find the link to those forms in the website of the Issuer.

b) SDIs (LeaseX, LoanX, BondX, InvoiceX)- Investor will have to apply for a Nil / reduced Withholding tax certificate with his Income Tax Assessing Officer in the prescribed Form 13. A brief process is as below - User calculates their likely Income for the full year -> User applies to Tax Department with their provisional Income statement mentioning the names of the Tax deductor -> Department okays the request within 30 days -> User submits the certificate with the Deductor Trust and the Trust starts deducting TDS at a lower / nil rate. If you have invested in multiple SDI instruments during the year, you will have to include the name of all the Issuer Trusts (as each SDI is managed by a different Trust). Please also note that such certificate once granted, is valid only till the end of the Financial year and you will have to apply for the same next year.

The financial year in India begins on the 1st of April and ends on the 31st of March next year. So any income earned/accrued between 1st April to 31st March of the next year, needs to have the income tax returns filed on or before the defined deadlines. For individual investors not requiring tax audit the deadline is generally 31st July while for most other type of investors it is 31st October. We recommend you to consult your tax advisor / Chartered Accountant.

As it is the responsibility of investors to file their own income tax returns, Grip is not authorized to do the ITR filing for investors.

In recent years, the government has released new ITR forms and the instructions to file ITR in the month of June i.e. nearly 2-3 months after the closure of the financial year. Any changes in the ITR form or process can be expected around June.

The interest income earned of Corporate Bonds or SDIs (LeaseX, LoanX, BondX, InvoiceX etc) are chargeable to tax and the investor has to disclose them under the correct heading in their ITRs.

LeaseX is a lease financing investment opportunity structured in the form of a Securitized Debt Instrument (SDI) which is a tradable fixed-income instrument issued in accordance with a SEBI framework. Grip through LeaseX offers lease rentals backed SDIs which are rated by a credit rating agency and are listed on National Stock Exchange (NSE) in a demat form. It provides investors with fixed monthly payouts linked to rental payments made by a single or a diverse pool or leasing partners. For risk mitigation, all cashflows are managed by a SEBI registered trust (with an escrow mechanism to ring-fence the receivables). Further, the rentals are also backed by a bank guarantee.

LeaseX is in the form of SDI and therefore is a tradable instrument held in dematerialised form, i.e., it offers a similar experience to buying, holding, and selling a bond. However, ability to find a buyer is not guaranteed by Grip and the investor could expect to hold the instruments until maturity.

SDI was introduced by SEBI in 2008 under the SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations. The first asset leasing backed SDI was listed on the National Stock Exchange (NSE) by Grip on 7 October 2022. As on 31 January 2023, Grip has listed four LeaseX transactions (in SDI format) of collectively INR 41Cr.

The LeaseX (in SDI format) is a SEBI compliant, listed, and rated instrument, partially secured by cash collateralized bank guarantee and managed by an independent, SEBI-registered trustee. The monthly returns in the LeaseX originate from contracted lease agreements with the lessee(s). Lessee(s) forming part of any SDI are decided upfront and cannot be changed during the tenure, unlike a mutual fund.

ROI and IRR are complementary metrics where the main difference between the two is the time value of money. ROI gives you the total return of an investment but doesn’t take into consideration the time value of money. For example, INR 1,000 received today is more valuable than INR 1,000 received after 3 months. IRR calculations take into consideration when the INR 1,000 was received, while ROI does not. IRR hence not only represents the amount of money earned but also how fast it was earned.

Only the monthly interest payout is expected to be taxed at the marginal tax rate of the individual investor; no tax should be payable on the principal repayment. Appreciation (if any) of the price of the SDI, in case of sale prior to the full tenure, is expected to be considered as capital gain and taxed accordingly. Please do not consider this as tax advice. We urge you to speak with your independent tax advisor.

Accrued interest is the amount of interest due on the SDI that has accumulated since the last time an interest payment was made. The interest has been earned by the existing holder, but because interest is only paid at set intervals the investor has not received the money yet. If the present holder sells his SDI, he should be entitled to get the interest until the date of the sale. For example, assume you receive INR 1,000 as interest on the 30th of every month. On the 15th of the month, you decide to sell the SDI. Since you held the SDI for 15 days, an equivalent coupon amount, in this case INR 500 is earned by you but not yet received. Hence, when you sell the SDI, the INR 500 in accrued interest must be added to the sale price to fairly compensate you.

The clean price is the price of an SDI not including any accrued interest. The clean price is typically calculated as the adjusted face value of the instrument closer to the nearest payout date, ceteris paribus. Dirty price is the price of an SDI that includes accrued interest between payout dates.

The investment amount is the sum of the face value of each SDI (“Clean Price”) and accrued interest.

LeaseX (in SDIs format) are tradable instruments. This means that there is no lock-in on your investment. If you want to sell the instrument before maturity, you can do so in the secondary market at the market price (market price may vary from par-value).

Yes, SEBI has mandated KYC requirements for the purchase of the SDIs to prevent money laundering activities.

No. It is mandated by SEBI to transfer funds from the bank account in the name of the applicant.

BondX is a fixed-income investment opportunity structured in the form of an SDI, which is backed by receivables of multiple Bonds. These SDIs are rated by a credit rating agency. Investors/Subscribers are provided with expected payouts in the form of monthly interest payments, and staggered principal repayments. For risk mitigation, all cash flows are managed by a SEBI-registered trustee to ring-fence the receivables.

The BondX is a regulated and rated instrument, managed by an independent, SEBI-registered trustee. The returns in the BondX originate from a pool of Bonds receivables, which are individually secured by the Issuer by placing a collateral of a minimum 1.1x of the outstanding principal.

ROI and IRR are complementary metrics and the main difference between the two is the time value of money. ROI gives you the total return of an investment but doesn’t take into consideration the time value of money. For example, INR 1,000 received today is more valuable than INR 1,000 received after 3 months. IRR calculations take into consideration when the INR 1,000 was received, while ROI does not. IRR hence not only represents the amount of money earned but also how fast it was earned.

Only the monthly interest payout is expected to be taxed at the marginal tax rate of the individual investor; no tax should be payable on the principal repayment. Appreciation (if any) of the price of the SDI, in case of sale prior to the full tenure, is expected to be considered as capital gain and taxed accordingly. Please do not consider this as tax advice. We urge you to speak with your independent tax advisor.

The investment amount is the sum of the face value of each SDI (“Clean Price”) and accrued interest.

Accrued interest is the amount of interest due on the SDI that has accumulated since the last time an interest payment was made. The interest has been earned by the existing holder, but because interest is only paid at set intervals the investor has not received the money yet. If the present holder sells his SDI, he should be entitled to get the interest until the date of the sale.

For example, assume you receive INR 1,000 as interest on the 30th of every month. On the 15th of the month, you decide to sell the SDI. Since you held the SDI for 15 days, an equivalent coupon amount, in this case INR 500 is earned by you but not yet received. Hence, when you sell the SDI, the INR 500 in accrued interest must be added to the sale price to fairly compensate you.

The clean price is the price of a SDI not including any accrued interest. The clean price is typically calculated as the adjusted face value of the instrument closer to the nearest payout date, ceteris paribus. Dirty price is the price of a SDI that includes accrued interest between payout dates.

Yes, similar to Bonds, there could be 2 major factors due to which the prices fluctuate:

Interest rates: Price of fixed-income instruments is inversely related to the prevailing interest rates. With an increase in interest rates, the buyer expects more returns and accordingly, the price of the instruments goes down.

Credit risk: SDIs are rated by independent credit rating agencies such as CRISIL, which rank the risk for default. If a credit rating agency lowers or raises a particular SDI’s rating to reflect a change in risk, the returns must increase or decrease respectively to compensate the buyer.

For example, the typical symbols and related expectations are discussed below:

A1 - Instruments with this rating are considered to have a very strong degree of safety regarding the timely payment of financial obligations. Such instruments carry the lowest credit risk.

A2 - Instruments with this rating are considered to have a strong degree of safety regarding the timely payment of financial obligations. Such instruments carry low credit risk.

A3 - Instruments with this rating are considered to have a moderate degree of safety regarding the timely payment of financial obligations. Such instruments carry higher credit risk as compared to instruments rated in the two higher categories.

A4 - Instruments with this rating are considered to have a minimal degree of safety regarding the timely payment of financial obligations. Such instruments carry very high credit risk and are susceptible to default.

D - Instruments with this rating are in default or are expected to be in default on maturity. Modifier {"+" (plus)} can be used with the rating symbols for the categories A1 to A4. The modifiers reflect the comparative standing within the category.

Timely Interest and Timely Principal (TITP): Under this structure, both interest and principal payouts are promised at specified intervals (monthly/quarterly, etc.). If there is any shortfall in the promised payouts, credit enhancement available in the transaction can be utilized.

Ultimate Interest and Ultimate Principal (UIUP): Under this structure, there is a distinction between promised payouts, and expected payouts. While the interest and/or principal payouts could be expected at specified intervals, they are promised only on the maturity date. This implies that credit enhancement can be utilized only if the principal and/or interest is not fully paid out on/before the maturity date of the transaction.

Timely Interest and Ultimate Principal (TIUP): Under this structure, while the interest payouts are promised at specified intervals, the principal payouts are only expected at specified intervals. This implies that credit enhancement can be utilized if there is any shortfall in promised interest payouts, and also if the principal is not fully paid out on/before the maturity date of the transaction.

Yes, SEBI has mandated KYC requirements for the purchase of the SDIs to prevent money laundering activities.

No. It is mandated by SEBI to transfer funds from the bank account in the name of the applicant.

Capital adequacy ratio (CAR) is the ratio of a bank's capital to its risk-weighted assets and current liabilities. As per the current RBI guidelines, all NBFCs and HFCs are required to maintain a minimum capital ratio consisting of Tier I and Tier II capital, which shall not be less than 15% of its aggregate risk-weighted assets on-balance sheet.

Gross non-performing assets (GNPA) is the amount of the debts an establishment or people owe to the organization that has failed to collect or honour their contractual obligations.

Net non-performing assets (NNPA) is the amount that results upon deducting the provision for any unpaid or doubtful debt from the loan’s sum.

ROI and IRR are complementary metrics and the main difference between the two is the time value of money. ROI gives you the total return of an investment but doesn’t take into consideration the time value of money. For example, INR 1,000 received today is more valuable than INR 1,000 received after 3 months. IRR calculations take into consideration when the INR 1,000 was received, while ROI does not.

IRR hence not only represents the amount of money earned but also how fast it was earned.

Only the monthly interest payout is expected to be taxed at the marginal tax rate of the individual investor; no tax should be payable on the principal repayment. Appreciation (if any) of the price of the SDI, in case of sale prior to the full tenure, is expected to be considered as capital gain and taxed accordingly. Please do not consider this as tax advice. We urge you to speak with your independent tax advisor.

Accrued interest is the amount of interest due on the SDI that has accumulated since the last time an interest payment was made. The interest has been earned by the existing holder, but because interest is only paid at set intervals the investor has not received the money yet. If the present holder sells his SDI, he should be entitled to get the interest until the date of the sale.

For example, assume you receive INR 1,000 as interest on the 30th of every month. On the 15th of the month, you decide to sell the SDI. Since you held the SDI for 15 days, an equivalent coupon amount, in this case INR 500 is earned by you but not yet received. Hence, when you sell the SDI, the INR 500 in accrued interest must be added to the sale price to fairly compensate you.

The clean price is the price of a SDI not including any accrued interest. The clean price is typically calculated as the adjusted face value of the instrument closer to the nearest payout date, ceteris paribus. Dirty price is the price of a SDI that includes accrued interest between payout dates.

Yes, similar to Bonds, there could be 2 major factors due to which the prices fluctuate: Interest rates and Credit risk. Price of fixed-income instruments is inversely related to the prevailing interest rates. With an increase in interest rates, the price of the instruments goes down. Credit risk is assessed by independent credit rating agencies such as CRISIL, which rank the risk for default. Changes in a particular SDI’s rating to reflect a change in risk will affect the returns to compensate the buyer.

No. It is mandated by SEBI to transfer funds from the bank account in the name of the applicant.

LoanX is an investment opportunity structured in the form of a Securitized Debt Instrument (SDI), which is a fixed-income instrument issued in accordance with an RBI and SEBI framework. Grip through LoanX offers SDIs secured by a granular pool of loans such as MSME business loans, microfinance loans, joint liability group loans, etc.; these SDIs are listed and rated by a credit rating agency. Investors/Subscribers are issued with Pass-through Certificates (PTCs) by a SEBI registered trust; which gives the rights to the investors to receive fixed monthly payouts in the form of interest and/or principal.

LoanX is in the form of SDI and is a tradable instrument held in dematerialised form, i.e., it offers a similar experience to buying, holding, and selling a bond. However, ability to find a buyer is not guaranteed by Grip and the investor could expect to hold the instruments until maturity.

SDI was introduced by SEBI in 2008 under the SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations. The first asset leasing backed SDI was listed on the National Stock Exchange (NSE) by Grip on 7 October 2022. Since then, Grip has successfully completed INR 100 Cr in SDI transactions without any delay or default.

LoanX (in SDI format) is an RBI and SEBI compliant, listed, and rated instrument, which is managed by an independent, SEBI-registered trustee. The returns in the LoanX originate from a granular pool of retail loans such as MSME business loans, microfinance loans, joint liability group loans, etc. The security package of LoanX generally consists of over-collateralization, cash collateral, and excess interest spread (EIS).

The investment amount is the sum of the face value of each SDI (“Clean Price”) and accrued interest.

Yes, RBI has mandated KYC requirements for the purchase of the Pass-through Certificates (PTCs) to prevent money laundering activities.

LoanX (in SDIs format) are tradable instruments. This means that there is no lock-in on your investment. If you want to sell the instrument before maturity, you can do so in the secondary market at the market price (market price may vary from par-value).

In LoanX opportunities, the originator also acts as the servicer of the transactions. The primary responsibility of the servicer is to monitor, collect, and deposit the receivables under the transaction, to the collection and payout account of the trust on a monthly basis. In case the originator/servicer goes bankrupt, it will not have any impact on payouts to the investors, as all LoanX opportunities follow a structure of bankruptcy remoteness and in such a scenario, the trust would appoint a new servicer to service the assigned pool of loans.

Evaluation and filtering by the originator;

Internal evaluation by Grip, which involves benchmarking of originator’s background and the management team with market standards; analysis of the originator's portfolio of loans to identify a pool that complies with RBI and SEBI regulations and has credit worthiness; and ensuring market standard risk-rewards are being incorporated in the transaction structure. Grip will, on a reasonable effort basis, attempt to carry out ongoing monitoring by obtaining necessary confirmations/ verifications from the originator.

External evaluation by a tier-1 credit rating agency, which involves overall assessment of the pool of loans; evaluation of deal structure; assessing the sufficiency of credit enhancement to cover any potential shortfalls; and scenario analysis based on default rates, prepayments, etc.

Originator as a lender generally builds in various kinds of recourse to respective borrowers. The recourse is legally established by suitable documents as per terms and conditions agreed with each borrower. There is no recourse in LoanX opportunities beyond the credit enhancement available for the investors. Credit enhancement includes upfront cash collateral, over-collateralization, and excess interest spread (EIS); which will be available for investors and can be utilised in case of any shortfall in payments to investors.

Underlying loans with varying tenure and payment structure are pooled and securitized in the form of a debt instrument with a fixed tenure of say, 24 months. The loans with tenure of less than 24 months, will mature early while payments for the rest of the loans will continue until maturity of the instrument. The scheduled monthly cash flows to investors throughout the tenure of the instrument are based on the repayment schedule of the underlying pool of loan with different tenures but with a minimum balance tenure.