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Date	Entity Name			Rating Action
27th Feb 25	ICL FINCORP LIMITED			Instrument & Lender Details ICL FINCORP LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 1 = I am not a robot
	Proposed Non Convertible Debentures	Long-term	INR 4.69 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 12.67 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.19 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.32 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 3.94 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 8.08 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 12.35 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 18.75 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 21.21 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 10.41 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 11.08 Cr	ACUITE BBB- Stable
	Proposed Bond	Long-term	INR 50 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 8.33 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 5.18 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 17.72 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 18.73 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 7.68 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 3.59 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 2.36 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.3 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.34 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 9.76 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.18 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 3.72 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.64 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.63 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.15 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.54 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.61 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.34 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.7 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.6 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 2.12 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.98 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.33 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.5 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.87 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 1.03 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 0.38 Cr	ACUITE BBB- Stable
25th Feb 25	KUNAL CONCHEM PRIVATE LIMITED			Instrument & Lender Details KUNAL CONCHEM PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 4 + 2 = I am not a robot
	Letter of Credit	Short-term	INR 6 Cr	ACUITE A4+
	Cash Credit	Long-term	INR 6.5 Cr	ACUITE BB+
25th Feb 25	GOLDEN PEACE INFRASTRUCTURE PRIVATE LIMITED			Instrument & Lender Details GOLDEN PEACE INFRASTRUCTURE PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 1 + 3 = I am not a robot
	Proposed Term Loan	Long-term	INR 25 Cr	ACUITE Not Applicable
25th Feb 25	P F GLASS FOUNDATION			Instrument & Lender Details P F GLASS FOUNDATION To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 2 + 5 = I am not a robot
	Term Loan	Long-term	INR 8.24 Cr	ACUITE B Stable
	Term Loan	Long-term	INR 0.09 Cr	ACUITE B Stable
	Cash Credit	Long-term	INR 1.81 Cr	ACUITE B Stable
25th Feb 25	TRIVENI ENGICONS PRIVATE LIMITED			Instrument & Lender Details TRIVENI ENGICONS PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 4 + 1 = I am not a robot
	Bank Guarantee (BLR)	Short-term	INR 41 Cr	ACUITE A2+
	Bank Guarantee (BLR)	Short-term	INR 37 Cr	ACUITE A2+
	Bank Guarantee (BLR)	Short-term	INR 75 Cr	ACUITE A2+
	Bank Guarantee (BLR)	Short-term	INR 80 Cr	ACUITE A2+
	Bank Guarantee (BLR)	Short-term	INR 54 Cr	ACUITE A2+
	Bank Guarantee (BLR)	Short-term	INR 14 Cr	ACUITE A2+
	Bank Guarantee (BLR)	Short-term	INR 43 Cr	ACUITE A2+
	Cash Credit	Long-term	INR 14 Cr	ACUITE A- Stable
	Cash Credit	Long-term	INR 17 Cr	ACUITE A- Stable
	Cash Credit	Long-term	INR 12 Cr	ACUITE A- Stable
	Cash Credit	Long-term	INR 1 Cr	ACUITE A- Stable
	Cash Credit	Long-term	INR 2 Cr	ACUITE A- Stable
	Cash Credit	Long-term	INR 10 Cr	ACUITE A- Stable
	Proposed Long Term Bank Facility	Long-term	INR 50 Cr	ACUITE A- Stable
25th Feb 25	JAGATJIT INDUSTRIES LIMITED			Instrument & Lender Details JAGATJIT INDUSTRIES LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 2 = I am not a robot
	Term Loan	Long-term	INR 162 Cr	ACUITE BB- Stable
	Proposed Long Term Bank Facility	Long-term	INR 38 Cr	ACUITE BB- Stable
25th Feb 25	AVK ISPAT PRIVATE LIMITED			Instrument & Lender Details AVK ISPAT PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 9 + 7 = I am not a robot
	Cash Credit	Long-term	INR 17 Cr	ACUITE BB
25th Feb 25	BANGALORE METALLURGICALS PRIVATE LIMITED			Instrument & Lender Details BANGALORE METALLURGICALS PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 3 + 9 = I am not a robot
	Cash Credit	Long-term	INR 9.5 Cr	ACUITE B
	Term Loan	Long-term	INR 1.5 Cr	ACUITE B
25th Feb 25	CREATIVE DEVELOPERS			Instrument & Lender Details CREATIVE DEVELOPERS To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 8 + 8 = I am not a robot
	Proposed Long Term Bank Facility	Long-term	INR 1 Cr	ACUITE B-
25th Feb 25	ESSEL GREEN MOBILITY LIMITED			Instrument & Lender Details ESSEL GREEN MOBILITY LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 9 = I am not a robot
	Term Loan	Long-term	INR 200 Cr	ACUITE C
25th Feb 25	GULSHAN RAI JAIN (II)			Instrument & Lender Details GULSHAN RAI JAIN (II) To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 2 + 5 = I am not a robot
	Bank Guarantee/Letter of Guarantee	Short-term	INR 32.5 Cr	ACUITE A4
	Bank Guarantee (BLR)	Short-term	INR 15 Cr	ACUITE A4
	Cash Credit	Long-term	INR 16.5 Cr	ACUITE B+
	Cash Credit	Long-term	INR 10 Cr	ACUITE B+
25th Feb 25	OM ANAND EXPORTS			Instrument & Lender Details OM ANAND EXPORTS To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 2 + 9 = I am not a robot
	PC/PCFC	Short-term	INR 4.25 Cr	ACUITE D
	Post Shipment Credit	Short-term	INR 12.75 Cr	ACUITE D
25th Feb 25	RSSB HIKE PRIVATE LIMITED			Instrument & Lender Details RSSB HIKE PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 8 + 4 = I am not a robot
	Bank Guarantee (BLR)	Short-term	INR 3.75 Cr	ACUITE A4
	Proposed Bank Guarantee	Short-term	INR 1.25 Cr	ACUITE A4
	Cash Credit	Long-term	INR 2 Cr	ACUITE B+
	Proposed Cash Credit	Long-term	INR 8 Cr	ACUITE B+
25th Feb 25	S K M BUILDCON			Instrument & Lender Details S K M BUILDCON To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 6 + 4 = I am not a robot
	Cash Credit	Long-term	INR 9 Cr	ACUITE D
	Term Loan	Long-term	INR 2.7 Cr	ACUITE D
25th Feb 25	SHREE AMBICA BOARD INDUSTRIES			Instrument & Lender Details SHREE AMBICA BOARD INDUSTRIES To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 2 = I am not a robot
	Letter of Credit	Short-term	INR 5 Cr	ACUITE A4
	Term Loan	Long-term	INR 1.6 Cr	ACUITE B-
	Cash Credit	Long-term	INR 2 Cr	ACUITE B-
	Proposed Long Term Bank Facility	Long-term	INR 0.84 Cr	ACUITE B-
25th Feb 25	SRI DURGA BHAVANI POLYMERS			Instrument & Lender Details SRI DURGA BHAVANI POLYMERS To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 5 = I am not a robot
	Cash Credit	Long-term	INR 7 Cr	ACUITE D
	Term Loan	Long-term	INR 3.94 Cr	ACUITE D
	Proposed Cash Credit	Long-term	INR 0.06 Cr	ACUITE D
25th Feb 25	MAN TUBINOX LIMITED			Instrument & Lender Details MAN TUBINOX LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 2 + 5 = I am not a robot
	Letter of Credit	Short-term	INR 23 Cr	ACUITE D
	Proposed Letter of Credit	Short-term	INR 12.5 Cr	ACUITE D
	Proposed Term Loan	Long-term	INR 30 Cr	ACUITE D
	Term Loan	Long-term	INR 10 Cr	ACUITE D
	Proposed Term Loan	Long-term	INR 40 Cr	ACUITE D
	Proposed Cash Credit	Long-term	INR 5 Cr	ACUITE D
	Cash Credit	Long-term	INR 7 Cr	ACUITE D
	Cash Credit	Long-term	INR 2.5 Cr	ACUITE D
	Proposed Cash Credit	Long-term	INR 35 Cr	ACUITE D
25th Feb 25	MARVEL INFRABUILD PRIVATE LIMITED			Instrument & Lender Details MARVEL INFRABUILD PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 8 + 8 = I am not a robot
	Term Loan	Long-term	INR 20 Cr	ACUITE B-
25th Feb 25	SHARWIN COTTEX			Instrument & Lender Details SHARWIN COTTEX To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 9 + 5 = I am not a robot
	Cash Credit	Long-term	INR 25 Cr	ACUITE D
	Term Loan	Long-term	INR 2.36 Cr	ACUITE D
	Working Capital Term Loan	Long-term	INR 1 Cr	ACUITE D
25th Feb 25	SHUBHAM INDUSTRIES			Instrument & Lender Details SHUBHAM INDUSTRIES To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 4 + 8 = I am not a robot
	Cash Credit	Long-term	INR 10 Cr	ACUITE B+