Press Release October 18, 2024 SREI EQUIPMENT FINANCE LIMITED Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Non Convertible Debentures (NCD)	3492.45	Not Applicable | Withdrawn	-
Total Outstanding	0.00	-	-
Total Withdrawn	3492.45	-	-

Rating Rationale

­Acuité has withdrawn the long term rating on the Rs. 3492.45 crore Non Convertible Debentures (NCDs) facilities of Srei Equipment Finance Limited. The same is withdrawn without assigning any rating as the NCDs are extinugished and no longer are an outstanding obligation of the company. The rating is being withdrawn on account of the request received from the company and the necessary feedback received from the Trustees as per Acuité’s policy on withdrawal of ratings as applicable to the respective facility/instrument.

About the company

­­Incorporated in 2006, Kolkata based SEFL is a systemically important non-deposit taking non-banking finance company (NBFC-ND- SI) engaged in the business of equipment financing and providing leasing solutions for construction, mining, healthcare, agricultural and IT equipment. SEFL has registered office in Kolkata. It is a wholly owned subsidiary of Srei Infrastructure Finance Limited (SIFL), a listed company, which used to be engaged in the financing of infrastructure projects. Post slump sale all the financing activities have been shifted to SEFL and SIFL is now focused on fee based advisory services.

Unsupported Rating

­Not applicable

Analytical Approach

­Not applicable

Key Rating Drivers

Strength

­Not applicable

Weakness

­Not applicable

ESG Factors Relevant for Rating

­Not applicable

Rating Sensitivity

­Not applicable

Liquidity Position

­Not applicable

Outlook: Not Applicable

­

Other Factors affecting Rating

­None

Key Financials - Standalone / Originator

­ Particulars Unit FY23 (Actual) FY22 (Actual) Total Assets Rs. Cr. 15243.00 26583.90 Total Income* Rs. Cr. 1287.62 512.48 PAT Rs. Cr. (11219.28)  (2772.92) Net Worth Rs. Cr. (17220.50) (5992.21) Return on Average Assets (RoAA) (%) (53.65) (10.03) Return on Average Net Worth (RoNW) (%) 96.66 60.22 Debt/Equity Times (1.85) (5.34) Gross NPA# (%) 94.74% 71.52% Net NPA (%) 91.80% 61.88%   #Acuite calculation

Status of non-cooperation with previous CRA (if applicable):

­Not applicable

Any other information

­None

Applicable Criteria

• 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.

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 20 Oct 2023 Non-Covertible Debentures (NCD) Long Term 116.64 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 45.78 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 3.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 30.91 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 45.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 150.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 23.60 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 11.51 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 12.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.03 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 16.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.72 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 43.09 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 0.15 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 34.91 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.78 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 223.75 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 480.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 30.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 22.61 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.36 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 11.15 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 133.94 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 9.06 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 4.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 150.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 176.48 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 9.32 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 7.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.81 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 47.72 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 179.46 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.28 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 25.78 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 109.90 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 419.47 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 1.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 14.28 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 60.88 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 28.39 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 112.37 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 23.25 ACUITE D (Reaffirmed) 22 Oct 2022 Non-Covertible Debentures (NCD) Long Term 34.91 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.78 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 109.90 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 223.75 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 419.47 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 480.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 30.91 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 45.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 150.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 176.48 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 150.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 9.32 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 23.60 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 11.51 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 12.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 7.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.81 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 116.64 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 45.78 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 3.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 30.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 1.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 14.28 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 22.61 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 60.88 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.36 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 28.39 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 112.37 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 11.15 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 23.25 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 133.94 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.03 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 9.06 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 16.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 4.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.72 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 47.72 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 43.09 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 179.46 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 0.15 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.28 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 25.78 ACUITE D (Reaffirmed) 22 Oct 2021 Proposed Non Convertible Debentures Long Term 480.53 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 419.47 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 223.75 ACUITE D (Reaffirmed) Proposed Non Convertible Debentures Long Term 109.90 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.78 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 34.91 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 25.78 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.28 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 0.15 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 179.46 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 43.09 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 47.72 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.72 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 4.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 16.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 9.06 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.03 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 133.94 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 23.25 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 11.15 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 112.37 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 28.39 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.36 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 60.88 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 22.61 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 14.28 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 1.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 6.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 30.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 3.50 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 45.78 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 116.64 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 2.81 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 7.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 12.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 11.51 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 23.60 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 9.32 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 150.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 176.48 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 150.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 45.53 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 30.91 ACUITE D (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Reaffirmed) 05 Mar 2021 Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 150.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 23.60 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 12.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 7.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 2.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 3.50 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 30.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 9.90 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 6.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 2.50 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 1.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 16.50 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 4.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 50.72 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 47.72 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 43.09 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 179.46 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 0.15 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 17.28 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 40.10 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 176.48 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 150.53 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 30.91 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 9.32 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 11.51 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 2.81 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 116.64 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 45.78 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 14.28 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 22.61 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 60.88 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 17.36 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 28.39 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 112.37 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 11.15 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 23.25 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 133.94 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 6.03 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 45.53 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 9.06 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 25.78 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 34.91 ACUITE D (Downgraded from ACUITE BBB-) Non-Covertible Debentures (NCD) Long Term 6.78 ACUITE D (Downgraded from ACUITE BBB-) Proposed Non Convertible Debentures Long Term 109.90 ACUITE D (Downgraded from ACUITE BBB-) Proposed Non Convertible Debentures Long Term 223.75 ACUITE D (Downgraded from ACUITE BBB-) Proposed Non Convertible Debentures Long Term 419.47 ACUITE D (Downgraded from ACUITE BBB-) Proposed Non Convertible Debentures Long Term 480.53 ACUITE D (Downgraded from ACUITE BBB-) 15 Jan 2021 Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 150.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 23.60 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 12.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 7.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 2.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 3.50 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 30.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 15.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 9.90 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 6.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 2.50 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 1.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 176.48 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 150.53 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 30.91 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 9.32 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 45.53 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 9.06 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 25.78 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 34.91 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 6.78 ACUITE BBB- (Downgraded from ACUITE BBB) Proposed Non Convertible Debentures Long Term 109.90 ACUITE BBB- (Downgraded from ACUITE BBB) Proposed Non Convertible Debentures Long Term 223.75 ACUITE BBB- (Downgraded from ACUITE BBB) Proposed Non Convertible Debentures Long Term 419.47 ACUITE BBB- (Downgraded from ACUITE BBB) Proposed Non Convertible Debentures Long Term 480.53 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 11.51 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 2.81 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 116.64 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 45.78 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 17.99 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 14.28 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 22.61 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 60.88 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 17.36 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 28.39 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 112.37 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 11.15 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 23.25 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 133.94 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 6.03 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 10.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 16.50 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 4.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 50.72 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 47.72 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 43.09 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 179.46 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 0.15 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 17.28 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 40.10 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 40.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE BBB- (Downgraded from ACUITE BBB) Non-Covertible Debentures (NCD) Long Term 5.00 ACUITE BBB- (Downgraded from ACUITE BBB)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Not Applicable INE881J07FP0 Non-Convertible Debentures (NCD) 24 Jan 2019 Not avl. / Not appl. 24 Jan 2022 45.53 Simple Not Applicable|Withdrawn Not Applicable INE881J08300 Non-Convertible Debentures (NCD) 13 Aug 2015 10.750 13 Aug 2022 50.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08318 Non-Convertible Debentures (NCD) 13 Aug 2015 10.75 13 Aug 2025 150.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08326 Non-Convertible Debentures (NCD) 20 Aug 2015 10.50 20 Aug 2025 20.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08573 Non-Convertible Debentures (NCD) 08 Aug 2017 9.25 08 Nov 2022 176.48 Simple Not Applicable|Withdrawn Not Applicable INE881J08581 Non-Convertible Debentures (NCD) 08 Aug 2017 9.300 08 Nov 2022 150.53 Simple Not Applicable|Withdrawn Not Applicable INE881J08607 Non-Convertible Debentures (NCD) 08 Aug 2017 9.350 08 Aug 2024 9.32 Simple Not Applicable|Withdrawn Not Applicable INE881J08334 Non-Convertible Debentures (NCD) 24 Sep 2015 10.30 24 Apr 2021 150.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08615 Non-Convertible Debentures (NCD) 08 Aug 2017 9.40 08 Aug 2024 11.51 Simple Not Applicable|Withdrawn Not Applicable INE881J08359 Non-Convertible Debentures (NCD) 24 Sep 2015 10.50 24 Sep 2025 150.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08342 Non-Convertible Debentures (NCD) 24 Sep 2015 10.40 24 Apr 2023 150.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08367 Non-Convertible Debentures (NCD) 11 Jan 2016 10.60 11 Jan 2026 15.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08375 Non-Convertible Debentures (NCD) 20 Jan 2016 10.60 20 Jan 2026 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08383 Non-Convertible Debentures (NCD) 01 Feb 2016 10.15 01 May 2021 7.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08391 Non-Convertible Debentures (NCD) 05 Feb 2016 10.60 05 Feb 2026 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08623 Non-Convertible Debentures (NCD) 08 Aug 2017 Not avl. / Not appl. 08 Aug 2024 2.81 Simple Not Applicable|Withdrawn Not Applicable INE881J08409 Non-Convertible Debentures (NCD) 18 Mar 2016 10.70 18 Mar 2026 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08417 Non-Convertible Debentures (NCD) 29 Mar 2016 10.70 29 Mar 2023 2.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08631 Non-Convertible Debentures (NCD) 08 Aug 2017 9.50 08 Aug 2027 106.44 Simple Not Applicable|Withdrawn Not Applicable INE881J08425 Non-Convertible Debentures (NCD) 31 Mar 2016 10.00 31 Mar 2026 20.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08649 Non-Convertible Debentures (NCD) 08 Aug 2017 9.55 08 Aug 2027 45.78 Simple Not Applicable|Withdrawn Not Applicable INE881J08441 Non-Convertible Debentures (NCD) 25 May 2016 10.75 25 May 2026 20.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08458 Non-Convertible Debentures (NCD) 26 May 2016 10.25 26 May 2026 4.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08466 Non-Convertible Debentures (NCD) 24 Aug 2016 9.50 24 Aug 2026 30.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08482 Non-Convertible Debentures (NCD) 07 Oct 2016 10.75 07 Oct 2026 40.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08490 Non-Convertible Debentures (NCD) 25 Oct 2016 9.80 25 Apr 2024 50.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08516 Non-Convertible Debentures (NCD) 04 Nov 2016 9.85 04 Nov 2026 10.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08524 Non-Convertible Debentures (NCD) 01 Mar 2017 10.40 01 Jun 2024 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08532 Non-Convertible Debentures (NCD) 09 Mar 2017 10.18 09 Jun 2022 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07DZ4 Non-Convertible Debentures (NCD) 06 Oct 2016 9.95 06 Oct 2021 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EB3 Non-Convertible Debentures (NCD) 20 Dec 2016 9.00 20 Dec 2026 10.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EA5 Non-Convertible Debentures (NCD) 02 Dec 2016 9.00 02 Dec 2023 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EQ1 Non-Convertible Debentures (NCD) 26 May 2017 9.45 26 May 2024 50.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07ER9 Non-Convertible Debentures (NCD) 31 May 2017 9.32 31 May 2024 10.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07ES7 Non-Convertible Debentures (NCD) 22 Jun 2017 9.23 22 Jun 2024 20.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EU3 Non-Convertible Debentures (NCD) 03 Oct 2017 8.99 03 Oct 2024 6.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07ET5 Non-Convertible Debentures (NCD) 09 Jan 2018 8.50 15 Sep 2024 2.50 Simple Not Applicable|Withdrawn Not Applicable INE881J07ET5 Non-Convertible Debentures (NCD) 17 Jan 2018 8.50 15 Sep 2024 1.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08656 Non-Convertible Debentures (NCD) 08 Aug 2017 Not avl. / Not appl. 08 Aug 2027 17.99 Simple Not Applicable|Withdrawn Not Applicable INE881J07ET5 Non-Convertible Debentures (NCD) 15 Sep 2017 8.50 15 Sep 2024 20.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08698 Non-Convertible Debentures (NCD) 24 Jan 2019 10.75 24 Jan 2029 14.28 Simple Not Applicable|Withdrawn Not Applicable INE881J07FD6 Non-Convertible Debentures (NCD) 25 May 2018 8.75 25 May 2021 22.61 Simple Not Applicable|Withdrawn Not Applicable INE881J07FE4 Non-Convertible Debentures (NCD) 25 May 2018 9.10 25 May 2021 60.88 Simple Not Applicable|Withdrawn Not Applicable INE881J07FF1 Non-Convertible Debentures (NCD) 25 May 2018 Not avl. / Not appl. 25 May 2021 17.36 Simple Not Applicable|Withdrawn Not Applicable INE881J07FG9 Non-Convertible Debentures (NCD) 25 May 2018 9.00 25 May 2023 28.39 Simple Not Applicable|Withdrawn Not Applicable INE881J07FH7 Non-Convertible Debentures (NCD) 25 May 2018 9..00 25 May 2023 112.37 Simple Not Applicable|Withdrawn Not Applicable INE881J07FI5 Non-Convertible Debentures (NCD) 25 May 2018 Not avl. / Not appl. 25 May 2023 11.15 Simple Not Applicable|Withdrawn Not Applicable INE881J07FJ3 Non-Convertible Debentures (NCD) 25 May 2018 9.20 25 May 2028 148.75 Simple Not Applicable|Withdrawn Not Applicable INE881J07FK1 Non-Convertible Debentures (NCD) 25 May 2018 9.60 25 May 2028 133.94 Simple Not Applicable|Withdrawn Not Applicable INE881J07FL9 Non-Convertible Debentures (NCD) 25 May 2018 Not avl. / Not appl. 25 May 2028 6.03 Simple Not Applicable|Withdrawn Not Applicable INE881J07FO3 Non-Convertible Debentures (NCD) 24 Jan 2019 9.81 24 Jan 2022 17.99 Simple Not Applicable|Withdrawn Not Applicable INE881J07FQ8 Non-Convertible Debentures (NCD) 24 Jan 2019 Not avl. / Not appl. 24 Jan 2022 9.06 Simple Not Applicable|Withdrawn Not Applicable INE881J07EX7 Non-Convertible Debentures (NCD) 18 Jan 2018 9.00 18 Jan 2028 20.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EY5 Non-Convertible Debentures (NCD) 14 Mar 2018 8.30 14 Mar 2023 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EZ2 Non-Convertible Debentures (NCD) 26 Mar 2018 9.00 26 Mar 2025 16.50 Simple Not Applicable|Withdrawn Not Applicable INE881J07FA2 Non-Convertible Debentures (NCD) 04 Apr 2018 8.30 04 Apr 2023 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07FA2 Non-Convertible Debentures (NCD) 06 Apr 2018 8.30 04 Apr 2023 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07FA2 Non-Convertible Debentures (NCD) 12 Apr 2018 8.30 04 Apr 2023 4.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EK4 Non-Convertible Debentures (NCD) 17 Jan 2017 9.11 17 Jan 2022 50.72 Simple Not Applicable|Withdrawn Not Applicable INE881J07EL2 Non-Convertible Debentures (NCD) 17 Jan 2017 9.35 17 Jan 2022 50.72 Simple Not Applicable|Withdrawn Not Applicable INE881J07EM0 Non-Convertible Debentures (NCD) 17 Jan 2017 Not avl. / Not appl. 17 Jan 2022 43.09 Simple Not Applicable|Withdrawn Not Applicable INE881J07EN8 Non-Convertible Debentures (NCD) 17 Jan 2017 Not avl. / Not appl. 17 Jan 2022 179.46 Simple Not Applicable|Withdrawn Not Applicable INE881J07EO6 Non-Convertible Debentures (NCD) 17 Jan 2017 Not avl. / Not appl. 17 Jan 2022 500.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07EP3 Non-Convertible Debentures (NCD) 17 Jan 2017 Not avl. / Not appl. 17 Jan 2022 43.09 Simple Not Applicable|Withdrawn Not Applicable INE881J08557 Non-Convertible Debentures (NCD) 30 Mar 2017 10.25 30 Mar 2027 50.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08565 Non-Convertible Debentures (NCD) 23 Jun 2017 9.00 23 Jun 2027 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08565 Non-Convertible Debentures (NCD) 31 Mar 2018 9.00 23 Jun 2027 40.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08664 Non-Convertible Debentures (NCD) 03 Jul 2018 10.25 03 May 2024 50.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08672 Non-Convertible Debentures (NCD) 10 Oct 2018 10.25 10 Oct 2028 5.00 Simple Not Applicable|Withdrawn Not Applicable INE881J07FR6 Non-Convertible Debentures (NCD) 24 Jan 2019 10.5 24 Jan 2024 25.78 Simple Not Applicable|Withdrawn Not Applicable INE881J07FS4 Non-Convertible Debentures (NCD) 24 Jan 2019 10.50 24 Jan 2024 34.91 Simple Not Applicable|Withdrawn Not Applicable INE881J07FT2 Non-Convertible Debentures (NCD) 24 Jan 2019 Not avl. / Not appl. 24 Jan 2024 6.78 Simple Not Applicable|Withdrawn Not Applicable INE881J07EW9 Non-Convertible Debentures (NCD) 28 Dec 2017 8.80 28 Dec 2020 10.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08474 Non-Convertible Debentures (NCD) 04 Oct 2016 10.75 04 Oct 2026 15.00 Simple Not Applicable|Withdrawn Not Applicable INE881J08599 Non-Convertible Debentures (NCD) 08 Aug 2017 Not avl. / Not appl. 08 Nov 2022 30.91 Simple Not Applicable|Withdrawn Not Applicable Not avl. / Not appl. Proposed Non Convertible Debentures Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 124.79 Simple Not Applicable|Withdrawn

Contacts

Mohit Jain Senior Vice President - Rating Operations Nivedita Gokul Associate Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in

About Acuité Ratings & Research

­Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating.