* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuite has reaffirmed the long term rating of ‘ACUITE C’ (read as ACUITE C) and the short term rating of ‘ACUITE A4’ (read as ACUITE A Four) on the Rs 80.00 crore bank facilities of Amogen Pharma Private Limited on account of information risk. The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.
About the Company
Amogen Pharma Private Limited, incorporated in 2020. The main objective of the Company is to undertake the business of Bio Pharma Active Pharmaceutical Ingredients manufacturing. At Present, APPL is constructing the factory as per its proposed 1200 KPA (Kgs per annum) Active Pharmaceutical Ingredients (API) manufacturing plant at Karkapatla village, Siddipet district, Telangana. Company has received all the necessary approvals for construction of the plant. The Directors of the company are Mr. Poosapati Venkata Surya Narasimha Raju, Ms. Thakasi Devi Kalyan Kumar and Mr. Akhilesh Raju Pusapati.The Registered office of the company is in Hyderabad.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower:
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date.
Acuité believes that information risk is a critical component in such ratings, and non-cooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality.
This rating is, therefore, being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.
Limitation regarding information availability
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
ACUITE C
(Downgraded & Issuer not co-operating* from ACUITE B)
06 Sep 2024
Proposed Short Term Loan
Short Term
8.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Proposed Long Term Loan
Long Term
72.00
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+ | Stable)
24 Jul 2023
Proposed Short Term Loan
Short Term
8.00
ACUITE A4
(Assigned)
Proposed Long Term Loan
Long Term
72.00
ACUITE B+ | Stable
(Assigned)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Not Applicable
Not avl. / Not appl.
Proposed Long Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
72.00
Simple
ACUITE C | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Short Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
8.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
