ICRA Limited

Ratings assigned and not accepted (Archived)

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Sl. No.	Name of the Issuer	Sector	Security/Instrument Type	Issue Size (In INR Million)	Date of Non-Acceptance	Listing Status (Listed/Proposed to be listed/Unlisted)	Rating assigned along with Outlook (if any)	Whether the rating was accepted by the issuer, subsequent to the disclosure of un-accepted ratings? (Yes/No)	Date of subsequent acceptance of final rating assigned	Final rating accepted by the issuer	Whether the issuer requested for a review/appeal subsequent to disclosure of unaccepted rating?	Whether review/appeal of the disclosed unaccepted rating was granted by ICRA. (Yes/No)	Remarks (wherever applicable)
1	Navachetana Microfin Services Pvt. Ltd.	Finance	Issuer Rating	0	30 Sep 2022	Unlisted	[ICRA]BBB- (Stable)
2	Technosys Security Systems Private Limited	IT - Hardware	Bank Facilities	1550	27 Sep 2022	Unlisted	[ICRA]BB+ (Stable)/[ICRA]A4+
3	Dhash PV Technologies Private Limited	Other Consumer Services	Issuer Rating	0	26 Sep 2022	Unlisted	[ICRA]BB (Stable)
4	Purti Vanaspati Private Limited	Food Products	Bank Facilities	300	22 Sep 2022	Unlisted	[ICRA]BB+ (Stable)/ [ICRA]A4+
5	Talf solar India Private Limited*	Power	Bank Facilities	100	22 Sep 2022	Unlisted	[ICRA]BB+(Stable)
6	Gimatex Industries Private Limited	Textiles & Apparels	Bank Facilities	4600	19 Sep 2022	Unlisted	[ICRA]BBB+(Stable)/[ICRA]A2
7	Mahakaushal Sugar and Power Industries Limited	Agricultural Food & other Products	Bank Facilities	1000	16 Sep 2022	Unlisted	[ICRA]BB (Stable)
8	CtrlS Datacenters Limited	IT - Services	Bank Facilities	9000	16 Sep 2022	Unlisted	[ICRA]AA-(Stable)/[ICRA] A1+
9	Vishal Construction	Realty	Bank Facilities	1750	14 Sep 2022	Unlisted	[ICRA]BB+(Stable)
10	G A Infra Private Limited	Construction	Issuer Rating	0	12 Sep 2022	Unlisted	[ICRA]BBB+ (Positive)
11	SM Corporation Ltd.	Metals & Minerals Trading	Bank Facilities	800	12 Sep 2022	Unlisted	[ICRA]BB (Stable)/ [ICRA]A4
12	RetailEZ Private Limited	Textiles & Apparels	Issuer Rating	0	09 Sep 2022	Unlisted	[ICRA]BB+ (Stable)
13	Rajendra Singh Bhamboo Infra Private Limited*	Construction	Bank Facilities	250	07 Sep 2022	Unlisted	[ICRA]BBB+ (Stable)/ [ICRA]A2
14	Jandu Construction India Private Limited	Construction	Bank Facilities	100	05 Sep 2022	Unlisted	[ICRA]BBB (Positive)/[ICRA]A3+
15	Windals Precision Private Limited	Auto Components	Bank Facilities	1902.8	05 Sep 2022	Unlisted	[ICRA]BBB- (Stable)/[ICRA]A3
16	Dugar Finance and Investments Limited	Finance	Bank Facilities	450	01 Sep 2022	Unlisted	[ICRA]BB+ (Stable)
17	P N Gadgil Jewellers Private Limited	Consumer Durables	Bank Facilities	500	29 Aug 2022	Unlisted	[ICRA]BBB+ (Stable)
18	Bateli Tea Company Ltd.	Agricultural Food & other Products	Bank Facilities	0	25 Aug 2022	Listed	[ICRA]A3
19	Alliance Projects	Realty	Bank Facilities	240	18 Aug 2022	Unlisted	[ICRA]BBB-(Stable)
20	Sanskriti Society for Education Research and Development	Other Consumer Services	Bank Facilities	250	18 Aug 2022	Unlisted	[ICRA]BB+(Stable)/[ICRA]A4+
21	Arun Shanti Education Trust	Other Consumer Services	Bank Facilities	2500	10 Aug 2022	Unlisted	[ICRA]BB+(Stable)/[ICRA]A4+
22	CAE Simulation Training Private Limited*	Other Consumer Services	Bank Facilities	300	05 Aug 2022	Unlisted	[ICRA]A (Stable)
23	Mathura Fibres and Cotton Industries	Textiles & Apparels	Bank Facilities	276.5	28 Jul 2022	Unlisted	[ICRA]B+ (Stable)
24	Premier People Logistic Solutions Private Limited	Transport Services	Issuer Rating	0	28 Jul 2022	Unlisted	[ICRA]BB (Stable)
25	Bebo International	Agricultural Food & other Products	Bank Facilities	400	28 Jul 2022	Unlisted	[ICRA]BB (Stable)\[ICRA]A4
26	Oasys Cybernetics Private Limited	IT - Services	Bank Facilities	250	21 Jul 2022	Unlisted	[ICRA]BBB(Stable)/[ICRA]A3+
27	Sparsh Foods India Private Limited	Agricultural Food & other Products	Bank Facilities	250	20 Jul 2022	Unlisted	[ICRA]BB- (Stable)
28	Mecgale Pneumatics Private Limited	Industrial Manufacturing	Issuer Rating	0	15 Jul 2022	Unlisted	[ICRA]BBB+ (Stable)
29	M J Biopharm Private Limited*	Pharmaceuticals & Biotechnology	Bank Facilities	1500	08 Jul 2022	Listed	[ICRA]BB+ (Stable)/ [ICRA]A4+
30	Aludecor Lamination Pvt. Ltd.	Other Construction Materials	Bank Facilities	100	07 Jul 2022	Unlisted	[ICRA]BBB (Stable)/[ICRA]A3+
31	H.N. Agrichain Private Limited	Agricultural Food & other Products	Bank Facilities	380	05 Jul 2022	Unlisted	[ICRA]B(Stable) /[ICRA]A4
32	Edelweiss Housing Finance Limited	Finance	Series A1 ABS	746.9	04 Jul 2022	Unlisted	Provisional [ICRA]AAA(SO) Rating in the absence of the pending actions/documents : No rating would have been assigned as it would not be meaningful						The assigned rating is provisional and would be converted into a final rating upon the execution of: 1.Trust deed 2.Assignment agreement 3.Legal opinion 4.Trustee letter 5.Chartered Accountant’s Know Your Customer (KYC) certificate 6.Any other documents executed for the transaction
33	Natural Capsules Limited	Pharmaceuticals & Biotechnology	Bank Facilities	33.1	04 Jul 2022	Listed	[ICRA]BBB (Stable)/ [ICRA]A3+						Enhanced limit ratings not accepted.
34	Himalayan Packaging Industries Private Limited	Industrial Products	Bank Facilities	190	29 Jun 2022	Unlisted	[ICRA]BB (Stable)/A4
35	Bengal Faith Health Care Private Limited	Healthcare Services	Bank Facilities	500	29 Jun 2022	Unlisted	[ICRA] D
36	M/s. Fab Tech Engineers	Industrial Manufacturing	Bank Facilities	70	27 Jun 2022	Unlisted	[ICRA]BB- (Stable)/[ICRA]A4
37	Shree Chanakya Education Society	Other Consumer Services	Bank Facilities	400	14 Jun 2022	Unlisted	[ICRA]BB+ (Stable)
38	T.C. Terrytex Limited	Textiles & Apparels	Bank Facilities	120	23 May 2022	Unlisted	[ICRA] BBB-(Stable)/[ICRA]A3
39	Shree Pushkar Chemicals & Fertilisers Limited	Chemicals & Petrochemicals	Bank Facilities	310	23 May 2022	Listed	[ICRA]A+(Positive)/[ICRA]A1
40	Saroj Landmark Realty LLP	Realty	Bank Facilities	1000	20 May 2022	Unlisted	[ICRA]BBB-(Stable)
41	Balaji Malts Private Limited	Industrial Products	Bank Facilities	300	20 May 2022	Unlisted	[ICRA]BBB(Stable)/[ICRA]A3+
42	Gupta Solvent Private Limited	Other Consumer Services	Bank Facilities	245	10 May 2022	Unlisted	[ICRA]BB+ (Stable)
43	Razack Trading Company	Textiles & Apparels	Bank Facilities	770	05 May 2022	Unlisted	[ICRA]BB-(Stable)/[ICRA]A4
44	Port City Nidhi Limited	Finance	Fixed deposits	3000	02 May 2022	Unlisted	MB+ (Stable)
45	Shree Translink (India) Private Limited	Transport Services	Issuer Rating	0	30 Apr 2022	Unlisted	[ICRA]BB-(Stable)
46	RSB Transmissions (I) Ltd.	Auto Components	Issuer Rating	0	29 Apr 2022	Unlisted	[ICRA]BBB- (Stable)
47	Ugro Capital Limited	Finance	Bank Facilities	500	21 Apr 2022	Listed	[ICRA]A1
48	Sivaguru Spinning Mills Private Limited	Textiles & Apparels	Bank Facilities	250	20 Apr 2022	Unlisted	[ICRA]B(Stable)/[ICRA]A4
49	Ozone Properties Private Limited	Realty	Bank Facilities	2850	17 Apr 2022	Unlisted	[ICRA]BB (Stable)
50	Jindal Steel Odisha Limited	Ferrous Metals	Bank Facilities	157270	15 Apr 2022	Unlisted	[ICRA]A+ (Stable)
51	Vindhyachal Distilleries Private Limited	Beverages	Bank Facilities	100	09 Apr 2022	Unlisted	[ICRA]BBB-(Stable)/[ICRA]A3
52	Sandhya Spinning Mill Limited	Textiles & Apparels	Bank Facilities	2740	07 Apr 2022	Unlisted	[ICRA]A-(CE)(Stable)/[ICRA]A2+(CE),[ICRA]BB+(Stable)/[ICRA]A4+, without explicit credit enhancement						NA
53	Korlam Kantakapalle Expressways Private Limited	Construction	Bank Facilities	2400	07 Apr 2022	Unlisted	[ICRA]BBB- (Stable)
54	Sandhya Aqua Exports Pvt. Limited	Food Products	Bank Facilities	1060	02 Apr 2022	Unlisted	[ICRA]BBB (Stable)
55	Darpan Infrastructure Private Limited	Construction	Bank Facilities	56.7	01 Apr 2022	Unlisted	[ICRA]BB- (Stable)/[ICRA]A4
56	Foods and Inns Limited	Food Products	Bank Facilities	250	31 Mar 2022	Listed	[ICRA]BB+(Stable)/ [ICRA]A4+

Disclaimers :

Please note that unaccepted ratings are not subject to the periodic monitoring/surveillance exercise and may not be representative of the current credit quality of the rated entity. Additionally, ICRA Ratings should not be treated as a recommendation to buy, sell, or hold the rated debt instruments. For ratings which were un-accepted by the Issuer prior to 1st February 2023, the status in column 9 to 14 is updated only if the respective event has occurred after 1st February 2023.

For ratings which are un-accepted by the Issuer on or after 1st February 2023, the status in column 9 to 14 is shown as on date of issue of this disclosure. The '*' sign denotes that rating has been accepted. All accepted ratings are subject to a process of surveillance, which may warrant a revision in ratings.

Please visit our website (https://www.icra.in) or contact any ICRA office for the latest information on ICRA outstanding Ratings. You may also refer to the current rating list (https://www.icra.in/Rating/Index) published on ICRA website for further information on rated instruments.