Finance can often be tricky. And financial jargons, even more complicated! At Wint, we aspire to make investing not just a hassle free experience, but also help you in your financial journey from becoming a newbie investor, to a bond (not James) junkie. And so, Welcome to Wintopedia! A platform that will help you learn, understand and analyze the workings of the Indian bond market.

The dictionary meaning of a covenant is “an agreement between members to do a specific thing. For example, a peace treaty among multiple countries is a type of covenant.”

In the context of covered bonds, A covenant is simply an agreement between the issuer and the debenture trustee to follow some pre-decided conditions.

When you lend money to someone or to a company, there is some inherent risk that you carry. For example, suppose you lend money to a company because you believe in the potential of their senior management team, but what if the promoters only leave the company once you have lent money to the company. Now, after this, the company might not perform equally well. Similarly, there can be many such scenarios where a promising looking company might not perform equally well at all points of time in the future.

To mitigate this risk of uncertainties, a lender can sign an agreement with the borrower company to follow some pre-determined conditions. In our above example, an agreement that the promoters have to stay in the company until the borrowed money is repaid. This agreement is called a Covenant.

There are different types of Covenants based on the nature of the agreement. The above example was an example of Affirmative covenants. Similarly, there are various other covenants like negative covenants, financial covenants, reporting covenants etc.

A negative covenant is an agreement where the lender restricts the company to undertake certain actions. For example, The Borrower company cannot acquire any other company without the consent from the debenture trustee/holders.

A financial covenant tries to map the financial performance of the company and calls a trigger event in case the performance is below accepted levels. For example, if the GNPA of the company rises above “x%” then the company will have to repay all the money immediately.

A reporting covenant requires a company to report any significant event within a specified time period. For example, the company should report any change in the shareholding structure of more than 3%.

With good returns comes a little risk. Anything that offers you better returns than an FD comes with some risks involved. The best an investor can do is choose the one where the mitigation of risk is the highest.


Our products like Wint Wheels Mar-21 provide good returns(10.25% p.a.) and helps in diversifying your portfolio. But there are certain risks involved, foremost being “Fraud Risk.”


For example, In the asset, Wint Wheels Mar-21, the underlying collateral was vehicle loans, and the most common question that we got is what if the vehicle does not exist in the underlying pool. This will eventually lead to a fraud risk. To mitigate such risks, we only picked those loans that met our criteria.


Our in-house audit team verified each vehicle loan in the underlying pool.


While verifying the vehicle loans, we look at all these crucial details:


The audit team checked each vehicle detail through the “Vahan Database” available to everyone. Vahan is a govt website for all vehicle databases, which is available for everyone to see.


Here, we can ascertain the following data: 

  • The name of the borrower;
  • The vehicle brand name (Manufacturer and model of the vehicle financed);
  • Name of the financier (Kogta Financial (I) Limited in our case);
  • Engine number and chasis number of the vehicle financed (These numbers are unique to each vehicle);
  • If the financed Vehicle is new, the sanction year of the loan should be the same as the Vehicle’s registration year.


We also verified the KYC (e.g., PAN, Voter ID, Driving Licence, etc.) of the borrower through the government database.


Over and above this, we physically verify the KYC, sanction amount, outstanding loan amount, number of EMIs paid by the borrower and vehicle registration number, which helps us verify the borrower and also helps us to ascertain if the loan account is performing or not.  



Even if you are a seasoned investor, it is your ‘investment duty’ to make sure you assess the asset you are investing in. At Wint, we believe in keeping things transparent and therefore we provide all the significant information that you would need to know, in order to vett your investment. 

You can find all the important information in the ‘Asset Detail’ section on the website. 

Here’s a step-by-step guide on how to navigate to this section. 

Step 1 

Once you’re at the Wint Wealth Homepage, click on ‘Assets’


Step 2 

You will reach the ‘Assets’ page. Here, click on the asset you want to know more about. Example, Wint Wheel or Wint Gold

Step 3 

You will see dropdowns to all the assets structures. Click on each to know more about the asset and its features. You can also calculate your returns by using the calculator at the side

No, only an existing investor and their referral get early access to the assets.

No, only an existing investor can refer.