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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 115.00 | ACUITE BB | Downgraded | Issuer not co-operating* | - |
| Bank Loan Ratings | 75.00 | ACUITE BB+ | Downgraded | Issuer not co-operating* | - |
| Bank Loan Ratings | 10.00 | - | ACUITE A4+ | Reaffirmed | Issuer not co-operating* |
| Total Outstanding | 200.00 | - | - |
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Rating Rationale |
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Acuité has downgraded its long-term rating to ‘ACUITE BB+' (read as ACUITE double B plus) from 'ACUITE A-(CE)' (read as ACUITE A minus (Credit Enhancement)) on the Rs.75.00 Cr. bank loan facilities of Aum Capital Markets Private Limited. Acuité has downgraded its long-term rating to ‘ACUITE BB' (read as ACUITE double B) from 'ACUITE BB+' (read as ACUITE double B plus) on the Rs.115.00 Cr. bank loan facilities of Aum Capital Markets Private Limited. Acuite has reaffirmed the short-term rating of ACUITE A4+ (read as ACUITE A four plus) on Rs. 10.00 crore bank facility of Aum Capital Market Private Limited. The rating has been downgraded on account of information risk. The rating is now flagged as 'Issuer not co-operating' and is based on the best avaliable information. |
| About the Company |
| Incorporated in 2005, Kolkata based, Aum Capital Market Private Limited (ACPL) is a securities broking company engaged in offering brokerage services mainly to Institutional clients. It also provides ancillary services like providing depository services, distribution of mutual funds, financial advisory. ACPL is a member of National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and Multi Commodity Exchange of India Limited (MCX). The company is promoted by Mr. Aditya Choudhary and Mr. Siddharth Choudhary. ACPL has two subsidiary companies Aum Bima Suraksha Broking Private Limited (engaged in Insurance Broking) and Aum Commodity Services Private Limited (engaged in Commodity Broking). |
| Unsupported Rating |
| ACUITE BB/ A4+ |
| 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 noncooperation by the issuer along with an 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 |
| The rating is based on information available from sources other than the issuer / borrower (in the absence of information provided by the issuer / borrower). Acuité endeavored to gather information about the entity / industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based. |
| Rating Sensitivities |
| "No information provided by the issuer / available for Acuite to comment upon." |
| Liquidity Position |
| "No information provided by the issuer / available for Acuite to comment upon." |
| Outlook: Not Applicable |
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| Other Factors affecting Rating |
| None |
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| Status of non-cooperation with previous CRA |
| Not Applicable |
| Any other information |
| Acuite has received the NDS for the month of July 2024 from the rated entity, confirming the no default on its debt obligations. |
| Applicable Criteria |
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• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.htm |
| Note on Complexity Levels of the Rated Instrument |
| In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in. |
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