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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 7.50 | Not Applicable | Withdrawn | - |
| Total Outstanding | 0.00 | - | - |
| Total Withdrawn | 7.50 | - | - |
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Rating Rationale |
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Acuité has withdrawn the rating on the Rs. 7.50 Crore Bank Facilities of RUPEEK CAPITAL PRIVATE LIMITED without assigning any ratingas Instrument is fully repaid and no longer an outstanding obligation of the company.
The rating is being withdrawn on account of the request received from the company and the NOC/NDC received from the banker’s as per Acuité’s policy on withdrawal of ratings as applicable to the respective facility / instrument. |
| About the company |
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RCPL is a wholly owned subsidiary of RFPL (headquartered in Bangalore, Karnataka) that was established with the goal of collaborating with the parent's lending partners on loans. In December 2017, RCPL received its NBFC licence and began disbursing gold loans on its own, using the Rupeek platform. In April 2019, RCPL began co-lending with RFPL's lending partners and has been steadily growing the business since July 2019.
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| About the Group |
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RFPL, which was founded in August 2015, has created an asset-backed online lending platform. In January 2016, it began disbursing gold loans using its app, Rupeek, with the lending partner.
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| About the Guarantor |
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Northern Arc, previously known as IFMR Capital Finance Ltd., is a Non-Deposit taking NonBanking Financial Company (ND-NBFC) incorporated in 1989. It is involved in the placement (arranging funding for its clients via loan syndication, securitisation and assignment among others) and lending business. The company acts as a link between mainstream capital markets investors and highquality last mile lending institutions and businesses. The company’s business is categorized as finance sector exposure, i.e., microfinance, affordable housing finance, commercial vehicle finance, consumer finance, agri-finance and small business loans, and non-finance sector exposure, i.e., mid-market finance and corporates.
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| Unsupported Rating |
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Not Applicable
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| Analytical Approach |
| Not Applicable |
| Key Rating Drivers |
| Strength |
| Not Applicable |
| Weakness |
| Not Applicable |
| Rating Sensitivity |
| Not Applicable |
| Liquidity Position |
| Not Applicable |
| Outlook: |
| Not Applicable |
| Other Factors affecting Rating |
| None |
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| Key Financials - Consolidated | ||||||||||||||||||||||||||||||||||||||||
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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 • Complexity Level Of Financial Instruments: https://www.acuite.in/view-rating-criteria-55.htm • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.htm • Explicit Credit Enhancements: https://www.acuite.in/view-rating-criteria-49.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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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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About Acuité Ratings & Research |
