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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Non Convertible Debentures (NCD) | 20.00 | Not Applicable | Withdrawn | - |
| Total Outstanding | 0.00 | - | - |
| Total Withdrawn | 20.00 | - | - |
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Rating Rationale |
| Acuité has withdrawn its long-term rating on the Non Convertible Debentures of Rs. 20.00 Cr. of Moneyboxx Finance Limited (MFL). The Non Convertible Debentures are withdrawn without assigning any rating as the facilities have been redeemed. The withdrawal is in accordance with Acuite's policy on withdrawal of ratings as applicable to the respective facility / instrument. The rating is withdrawn on receipt of withdrawal request from the company and No Objection Certificate received from the debenture trustee. |
| About the company |
| MoneyBoxx Finance Limited (MFL) is a BSE Listed NBFC providing small ticket loans to micro and small enterprises. It commenced its operations in February 2019 and is promoted by Mr. Deepak Aggarwal and Mr. Mayur Modi. As on March 2025, it operates in 12 states, i.e., Bihar, Rajasthan, Haryana, Madhya Pradesh, Punjab, Uttar Pradesh and Chhattisgarh and South India through its branch network of 163 branches. The company is registered with RBI as Non-systematically Important NBFC engaged in lending and allied activities. |
| Unsupported Rating |
| Not Applicable. |
| Analytical Approach |
| Not Applicable. |
| Key Rating Drivers |
| Strength |
| Not Applicable. |
| Weakness |
| Not Applicable. |
| ESG Factors Relevant for Rating |
| Moneyboxx Finance Limited (MFL) belongs to the Non-Banking Financial Companies (NBFC) sector which complements bank lending in India. Some of the material governance issues for the sector are policies and practices with regards to business ethics, board diversity and independence, compensation structure for board and KMPs, role of the audit committee and shareholders’ rights. On the social aspect, some of the critical issues for the sector are the contributions to financial inclusion and community development, sustainable financing including environmentally friendly projects and policies around data privacy. The industry, by nature has a low exposure to environmental risks. MFL is primarily engaged in extending credit towards SME loans which supports financial inclusion by financing of smaller businesses. MFL's board comprises of a total of six directors out of which two are independent directors and includes one female director. The company maintains adequate disclosures with respect to the various board level committees mainly audit committee, nomination and renumeration committee along with stakeholder relationship committee. MFL also maintains adequate level of transparency with regards to business ethics issues like related party transactions, investors grievances and whistle blower policy. In terms of social impact, the company has demonstrated its commitment through its goals of rural empowerment, gender inclusion, and improving the country's livestock capital. |
| Rating Sensitivity |
| Not Applicable. |
| Liquidity Position |
| Not Applicable. |
| Outlook: |
| Not Applicable. |
| Other Factors affecting Rating |
| None. |
| Key Financials - Standalone / Originator | ||||||||||||||||||||||||||||||||||||||||
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| Status of non-cooperation with previous CRA (if applicable): |
| Not Applicable. |
| Any other information |
| None. |
| 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 |
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