* 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
Acuité has reaffirmed the long-term rating of ‘ACUITE B-’ (read as ACUITE B minus) and the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 10.00 Cr bank facilities of Startwise Private Limited (SPL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
Incorporated in 2016, Startwise Private Limited (SPL). is a Bangalore based company. The company is engaged in civil construction and has commenced its operations in October 2018. The company received subcontract from Sudhakara Infratech Private Limited (SIPL) amounting Rs.76.89Cr to construct 28 roads under Pradhan Mantri Gram Sadak Yojana (PMGSY). The day to day operations of the company is managed by Mr. D. Mahesh Kumar.
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."
* 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 Bank Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Long Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.50
Simple
ACUITE B- | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
2.50
Simple
ACUITE B- | 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.
