Mumbai: Zerodha-backed alternative debt asset platform Wint Wealth said on Thursday that it has partnered with U Gro Capital to launch Wint Bricks on Nov. 21 to bring senior secured bonds for retail investors. The company said in a statement that the size of the bond issue is Rs 50 crore and is collateralized by loans of at least Rs 62.5 crore

The bond offers an XIRR (Extended Internal Rate of Return) of 10.50 percent.

"With an aim to further democratizing alternative assets for retail investors, we thought it was a good time to launch a new structure and further extend the investment horizon. The maturity period has been set at 27 months as the asset does not it has nothing to do with stocks, "said Ajinkya Kulkarni, co-founder of Wint Wealth."

The statement said that retail investors can directly invest in the bonds with a minimum ticket size of Rs 10,000 through their demat accounts.

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

Source: Economics Times

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