DOCSLIB.ORG

Details of Current Tranche Part

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Details of Current Tranche Part LETTER OF OFFER Part - I Proposed Date of Issue April 30, 2021 Credit Rating ‘[ICRA] A1+’ • Date of Rating April 27, 2021 • Validity for Issuance 3 Months • Validity Period for Rating November 30, 2021 • For Amount Rs. 300.00 Crores • Conditions (If any) NA Exact Purpose of CP For meeting Stock in Trade Credit Support (If any) NA Description of Instrument NA • Amount NA • Issued By NA • In Favour of NA • Conditions, If Any NA Net worth of the guarantor company; names of companies to which guarantor has issued similar guarantee; extent of the NA guarantee offered by the guarantor company; conditions under which the guarantee will be invoked. Details of Current Tranche ISIN INE019C14557 Amount Rs 30.00 Crores Maturity Date July 29, 2021 Current Credit Rating ‘[ICRA] A1+’ Validity Period of Rating November 30, 2021 Credit Rating Agency ICRA Limited Name and address of Trustee NA Listing (Proposed to be listed/unlisted) Proposed to be listed Issuing and Paying Agent ICICI Bank Limited, Kolkata Market Conventions FIMMDA Conventions CP Borrowing Limit Rs.300.00 Crores Supporting resolution of finance committee of the Borad of Direcotrs December 17, 2019 Total CP Outstanding (As on Value Date) Rs 60.00 Crores Part - II Details of CPs issued during the Last 15 Months Issue Maturity Issue ISIN O/s Amt IPA CRA Rated Amount date date Size Rating 05-04- INE019C14169 2018 04-06-2018 45.00 - ICICI CARE ‘ A1 +’ 150.00 10-04- INE019C14177 2018 29-06-2018 35.00 - ICICI CARE ‘ A1 +’ 150.00 16-04- INE019C14185 2018 15-06-2018 55.00 - ICICI CARE ‘ A1 +’ 150.00 20-04- INE019C14185 2018 19-06-2018 10.00 - ICICI CARE ‘ A1 +’ 150.00 04-06- INE019C14201 2018 31-07-2018 50.00 - ICICI CARE ‘ A1 +’ 150.00 15-06- INE019C14219 2018 12-09-2018 55.00 - ICICI CARE ‘ A1 +’ 150.00 21-06- INE019C14227 2018 12-09-2018 10.00 - ICICI CARE ‘ A1 +’ 150.00 02-07- INE019C14243 2018 31-08-2018 25.00 - ICICI ICRA ‘ A1 +’ 200.00 03-07- INE019C14235 2018 26-09-2018 35.00 - ICICI ICRA ‘ A1 +’ 200.00 24-07- INE019C14250 2018 27-09-2018 15.00 - ICICI ICRA ‘ A1 +’ 200.00 25-07- INE019C14235 2018 26-09-2018 10.00 - ICICI ICRA ‘ A1 +’ 200.00 03-08- INE019C14268 2018 28-09-2018 50.00 - ICICI ICRA ‘ A1 +’ 300.00 16-08- INE019C14276 2018 21-09-2018 25.00 - ICICI ICRA ‘ A1 +’ 300.00 31-08- INE019C14268 2018 28-09-2018 25.00 - ICICI ICRA ‘ A1 +’ 300.00 03-09- INE019C14284 2018 03-12-2018 50.00 - ICICI ICRA ‘ A1 +’ 300.00 05-10- INE019C14292 2018 05-11-2018 50.00 - ICICI ICRA ‘ A1 +’ 300.00 11-10- INE019C14300 2018 31-12-2018 25.00 - ICICI ICRA ‘ A1 +’ 300.00 30-10- INE019C14318 2018 28-12-2018 13.00 - ICICI ICRA ‘ A1 +’ 300.00 09-11- INE019C14318 2018 28-12-2018 50.00 - ICICI ICRA ‘ A1 +’ 300.00 19-11- INE019C14318 2018 28-12-2018 70.00 - ICICI ICRA ‘ A1 +’ 300.00 03-12- INE019C14326 2018 08-02-2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00 31-12- INE019C14334 2018 28-02-2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00 03-01- INE019C14342 2019 27-03-2019 70.00 - ICICI ICRA ‘ A1 +’ 300.00 04-01- INE019C14342 2019 27-03-2019 25.00 - ICICI ICRA ‘ A1 +’ 300.00 08-01- INE019C14359 2019 28-03-2019 13.50 - ICICI ICRA ‘ A1 +’ 300.00 15-02- INE019C14367 2019 18-04-2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00 01-03- INE019C14375 2019 16-04-2019 45.00 - ICICI ICRA ‘ A1 +’ 300.00 20-03- INE019C14375 2019 16-04-2019 5.00 - ICICI ICRA ‘ A1 +’ 300.00 18-04- INE019C14383 2019 21-06-2019 75.00 - ICICI ICRA ‘ A1 +’ 300.00 30-04- INE019C14391 2019 29-07-2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00 14-05- INE019C14409 2019 09-08-2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00 16-05- INE019C14417 2019 14-08-2019 40.00 - ICICI ICRA ‘ A1 +’ 300.00 24-05- INE019C14425 2019 22-08-2019 30.00 - ICICI ICRA ‘ A1 +’ 300.00 31-05- INE019C14433 2019 29-08-2019 20.00 - ICICI ICRA ‘ A1 +’ 300.00 31-05- INE019C14391 2019 29-07-2019 15.00 - ICICI ICRA ‘ A1 +’ 300.00 30-07- INE019C14441 2019 26-09-2019 15.00 - ICICI ICRA ‘ A1 +’ 300.00 27-09- INE019C14458 2019 13-12-2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00 11-10- INE019C14466 2019 10-12-2019 50.00 - ICICI ICRA ‘ A1 +’ 300.00 25-10- INE019C14474 2019 24-12-2019 40.00 - ICICI ICRA ‘ A1 +’ 300.00 26-11- INE019C14490 2019 26-12-2019 30.00 - ICICI ICRA ‘ A1 +’ 300.00 01-11- INE019C14482 2019 27-12-2019 15.00 - ICICI ICRA ‘ A1 +’ 300.00 26-12- INE019C14508 2019 24-03-2020 60.00 - ICICI ICRA ‘ A1 +’ 300.00 27-03- INE019C14516 2020 25-06-2020 50.00 - ICICI ICRA ‘ A1 +’ 300.00 16-10- INE019C14524 2020 14-01-2021 50.00 - ICICI ICRA ‘ A1 +’ 300.00 17-02- INE019C14532 2020 30-03-2020 30.00 - ICICI ICRA ‘ A1 +’ 300.00 12-04- INE019C14540 2021 09-07-2021 30.00 - ICICI ICRA ‘ A1 +’ 300.00 Issuer’s liability under the CP will continue beyond due date, in case the CP is not redeemed on due date, even if the CP is in d- mat . Details of other Debt Instruments Outstanding Issue Maturity ISIN Date Amount (Rs in Cr) Date Amount O/s NIL Part - III Name of Issuer Himadri Speciality Chemical Limited Address of Issuer 23A, Netaji Subhas Road, 8th floor, Kolkata - 700 001 Line of Business Manufacturing of Coal Tar Chemicals & Carbon Black Chief Executive - Managing Director Mr. Anurag Choudhary, MD & CEO Group Affiliation (If Any) N.A. Purpose of CP CP will be utilized for meeting Stock in Trade Financial Summary Mar-20 Mar-19 Mar-18 Mar-17 Equity 41.88 41.86 41.84 41.84 Net Worth 1651.51 1,677.22 1,456.33 1,078.10 Investment In Subsidiaries/Affiliates 46.65 259.12 353.21 166.21 Total Debt O/s- Other Debt 224.72 192.30 237.28 396.11 Short Term – (<1 Year) 713.15 722.60 560.94 573.61 Gross Income 180.84 2,387.31 2,029.01 1,479.15 Operating Profit (PBITD) 160.96 548.12 457.77 234.85 Gross Profit (PBTD) 106.44 477.55 387.34 154.37 Net Profit (Post Tax) 80.97 307.29 242.57 81.17 Bank Fund Based Facilities From Banks / Financial Institutions, If Any O/s Amount / Limit (Rs in Name of the Bank Nature of Facility Cr) Asset Classification Axis Bank Limited Fund Based 25.00 Standard Asset Bank of Baroda Fund Based 200.00 Standard Asset Central Bank of India Fund Based 10.00 Standard Asset Citi Bank NA Fund Based 30.00 Standard Asset DBS Bank India Limited Fund Based 50.00 Standard Asset HSBC Bank Fund Based 50.00 Standard Asset HDFC Bank Fund Based 40.00 Standard Asset ICICI Bank Limited Fund Based 45.00 Standard Asset IDFC Bank Limited Fund Based 25.00 Standard Asset IndusInd Bank Limited Fund Based 30.00 Standard Asset Kotak Mahindra Bank Fund Based 50.00 Standard Asset Qatar National Bank (Q.P.S.C.) Fund Based 60.00 Standard Asset RBL Bank Fund Based 25.00 Standard Asset State Bank of India Fund Based 100.00 Standard Asset Yes Bank Limited Fund Based 30.00 Standard Asset Ø Audit Qualifications (If Any): NIL Ø Material Litigation, If Any: NIL Ø Regulatory Structures, If Any: Ø Details of Default of CPs, Including Technical Delay in Redemption During Past Three Years: NIL Ø Details of Default and Delay in Redemption of Any Other Borrowings During Last Three Years: NIL Authorised Signatory of the Issuer Date: 30 April, 2020 *Original / authenticated copy of any document related to above information will be made available to the investors on request .
Load more

Recommended publications
  • August 10, 2021 the Secretary National Stock Exchange of India
    August 10, 2021 The Secretary The Secretary National Stock Exchange of India Ltd BSE Limited Exchange Plaza, C/1, Block G, P J Towers, Dalal Street, Bandra Kurla Complex, Bandra (East) Fort, Mumbai – 400 001 Mumbai – 400 051 BSE Scrip Code: 540595 NSE Symbol: TEJASNET Dear Sir/Madam, Re: ICRA Rating - Tejas Networks Limited - Ratings placed on watch with positive implications Please find enclosed the ICRA Credit Rating action dated August 9, 2021 following the announcement of Material event stating that the Ratings have been placed on watch with positive implications. The same is also made available on the Company’s website at www.tejasnetworks.com Kindly take the above on record. Yours sincerely For Tejas Networks Limited N R Ravikrishnan General Counsel, Chief Compliance Officer & Company Secretary Encl; as above August 9, 2021 Tejas Networks Limited- Ratings placed on watch with positive implications Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs. crore) (Rs. crore) Long Term / Short Term - Fund [ICRA]A-%/[ICRA]A2+%; Placed on 90.00 90.00 Based watch with positive implications Long Term / Short Term - Non [ICRA]A-%/[ICRA]A2+%, Placed on 193.50 193.50 Fund Based watch with positive implications Long Term / Short Term - [ICRA]A-%/[ICRA]A2+%, Placed on 276.36 276.36 Unallocated watch with positive implications Total 559.86 559.86 *Instrument details are provided in Annexure-1; % - Rating placed on watch with positive implications Rationale Material Event On July 29, 2021, Tejas Networks Limited (TNL) announced that it has executed definitive agreements with Panatone Finvest Limited (PFL), a subsidiary of Tata Sons Private Limited (TSPL) which will entail preferential allotment of 1.94 crore equity share aggregating to Rs.
    [Show full text]
  • Sharekhan BNP Paribas Financial Services Limited: Rating Reaffirmed
    July 31, 2020 Sharekhan BNP Paribas Financial Services Limited: Rating reaffirmed Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs. crore) (Rs. crore) Commercial paper programme 1,000.00 1,000.00 [ICRA]A1+; reaffirmed Commercial paper programme 2,300.00 2,300.00 [ICRA]A1+; reaffirmed (IPO financing) Total 3,300.00 3,300.00 *Instrument details are provided in Annexure-1 Rationale To arrive at the rating, ICRA has taken a consolidated view of Sharekhan Limited (SKL) and its subsidiaries (including Sharekhan BNP Paribas Financial Services Limited; SBPFSL). The reaffirmation of the rating for SBPFSL’s commercial paper (CP) programme factors in its strong parentage by virtue of being a part of the BNP Paribas Group. The company is a wholly-owned subsidiary of SKL (rated [ICRA]A1+), which is a subsidiary of BNP Paribas S.A. (BNPP; rated Aa3/Stable/P-1 by Moody’s). The rating also takes into account SKL’s considerable track record in the equity broking business and its well-established position in the retail broking space with a widespread clientele. The rating also factors in SKL’s healthy capital structure (gearing of 0.06 times as on March 31, 2020) and comfortable liquidity profile, on a consolidated basis, with sizeable cash and liquid investments and unutilised bank lines as on March 31, 2020. The rating continues to factor in SKL’s high dependence on broking income, which remains susceptible to the extent of competition in the industry and the inherent volatility associated with capital markets. While reaffirming the rating, ICRA has taken note of SKL’s decision to foray into the discount broking business under a new subsidiary with a new brand name.
    [Show full text]
  • Revision in Credit Rating
    August 9, 2021 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Corporate Relations Department, Plot No. C/1, G Block, 1st Floor, New Trading Ring, Bandra - Kurla Complex, Bandra (East), P. J. Towers, Dalal Street, Mumbai - 400 051. Mumbai - 400 001. Symbol: L&TFH Security Code No.: 533519 Kind Attn: Head - Listing Department / Department of Corporate Communications Dear Sir / Madam, Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 30 read with Schedule Ill of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”), we hereby inform you that ICRA Limited (ICRA), the credit rating agency, has reaffirmed the credit rating of following instrument(s) of the Company and the outlook on the long-term rating has been revised to ‘Stable’ from ‘Negative’. The summary of rating action is given below: Instrument type Current Rated Rating action Amount (Rs. in Crore) Non-convertible 1,000 [ICRA]AAA (Stable); reaffirmed; outlook debentures revised to ‘Stable’ from ‘Negative’ Commercial papers 2,500 [ICRA]A1+; reaffirmed Please refer the report issued by ICRA attached as enclosure A for complete details on the rating rationale. We request you to take the aforesaid on records. Thanking you, Yours faithfully, For L&T Finance Holdings Limited Apurva Rathod Company Secretary and Compliance Officer Encl: As above Enclosure A August 09, 2021 L&T Finance Holdings Limited: Ratings reaffirmed; Outlook on long-term ratings revised to Stable from Negative Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs.
    [Show full text]
  • Stock Holding Corporation of India Limited - Update on the Details of Lender Facilities
    August 09, 2021 Stock Holding Corporation of India Limited - Update on the details of lender facilities Instrument Type Lender Name* Rated Amount (Rs. crore) Intra Day Facility IDBI Bank 2,000.00 Overdraft Facility IDBI Bank 100.00 Bank Guarantee IDBI Bank 125.00 Overdraft Facility HDFC Bank 100.00 Overdraft against Fixed Deposit HDFC Bank 50.00 Bank Guarantee HDFC Bank 50.00 Total 2,425.00 * as on August 5, 2021 The details presented in this document provide an update on the names of lenders, in reference to the total credit facilities of Stock Holding Corporation of India Limited rated by ICRA. To access the previous rating rationale: Click Here. This update is being published as per the directions of the Reserve Bank of India (RBI) to the Credit Rating Agencies (CRAs) vide the communication [CO.DOR.ISG.No.S150/21-06-008/2021-2022] dated June 4, 2021. About ICRA Limited: ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency. Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange. The international Credit Rating Agency Moody’s Investors Service is ICRA’s largest shareholder. For more information, visit www.icra.in www.icra .in Page | 1 ICRA Limited Registered Office B-710, Statesman House 148, Barakhamba Road, New Delhi-110001 Tel: +91 11 23357940-45 Branches © Copyright, 2021 ICRA Limited.
    [Show full text]
  • Aftermarket Research Source Book
    Aftermarket Research Source Book November 2020 Refinitiv Aftermarket research collections provide the most comprehensive offering in the marketplace, with over 30 million research reports from over 1,900 sources. This document provides an index of the available research sources across the following collections: Subscription / Investext® Collection Pay-Per-View (PPV) / Research Select and Market Research Collections Aftermarket Research Source Book - November 2020 2 New Contributors Added Year to Date 81 contributors from 34 countries have been added to the collection since the beginning of 2020 Australia 3 Ireland 1 South Africa 1 Brazil 1 Japan 4 South Korea 1 Canada 5 Kenya 2 Spain 2 Chile 1 Lebanon 1 Switzerland 1 China 4 Liechtenstein 1 Turkey 2 Colombia 1 Nigeria 4 United Arab Emirates 6 France 2 Peru 1 United Kingdom 5 Germany 1 Philippines 1 United States 11 Ghana 1 Russia 1 Uzbekistan 2 Hong Kong 6 Saudi Arabia 1 Vietnam 1 India 3 Singapore 2 Indonesia 1 Slovenia 1 Contributor Highlights Refinitiv is pleased to announce that BofA Global Research has joined the list of exclusive BofA Global Research contributors only accessible, by qualifying users, through our Aftermarket Research collection. • A team of 285 analysts covering approximately 3,100 companies in 24 global industries – one of the largest research providers worldwide and with more sector coverage than anyone else. • More coverage (2,832) in large- and mid-caps than bulge-bracket peers. • One of the largest producers of equity research with approximately 47,000 documents published in 2019. GraniteShares is an entrepreneurial ETF provider focused on providing innovative, cutting-edge alternative investment solutions.
    [Show full text]
  • Annual Report 2012 - 2013
    Annual Report 2012 - 2013 Encouraging sustainability Empowering lives Accolades 2012-2013 Asia Money Best Bank Awards Financial Express Best Bank Awards ••Best Domestic Bank in India Best Bank – Private Sector • Best in Strength and Soundness Businessworld Awards for Banking Excellence • Best Banker – Aditya Puri • Most tech-friendly Bank • Deal of the year (Rupee bonds) IBA Banking Technology Awards • Best Online Bank CNBC TV18 India Best Banks and Financial Institutions • Best use of Business Intelligence Awards • Best Customer Relationship Initiative • Best Private Sector Bank • Best Risk Management & Security Initiative • Best use of Mobile Technology in Banking CSO Forum Information Technology Award • Best Information Security Practice IDRBT Banking Technology Excellence Awards • Best Bank in IT for Operational Effectiveness DSCI Information Technology Awards • Security Leader of the year Mint-Aon Hewitt’s India’s Best Managed Boards • Security in Bank • HDFC Bank among India’s six best managed Boards Dun & Bradstreet Banking Awards Nasscom CNBC-TV18 Innovation Award • Overall Best Bank • Best IT driven innovation in Banking (Commercial) • Best Private Sector Bank • Best Asset Quality – Private Sector National Quality Excellence Awards ••Best Retail Banking – Private Sector Best Customer Service Result Dun & Bradstreet Corporate Awards – India’s Top 500 NDTV Profit Business Leadership Awards Companies • Best Bank in India • Best Bank in India Skoch Foundation Financial Inclusion Awards Economic Times Awards for Corporate Excellence
    [Show full text]
  • HDFC Securities Limited: [ICRA]A1+ Assigned to Enhanced CP Programme; Ratings Reaffirmed
    July 23, 2020 HDFC Securities Limited: [ICRA]A1+ assigned to enhanced CP programme; ratings reaffirmed Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs. crore) (Rs. crore) Long-term fund-based bank 200.00 200.00 [ICRA]AAA(Stable); reaffirmed lines Long-term/short-term [ICRA]AAA(Stable)/[ICRA]A1+; 100.00 100.00 unallocated bank lines reaffirmed Commercial paper 1,000.00 1,500.00 [ICRA]A1+; assigned/reaffirmed programme Total 1,300.00 1,800.00 *Instrument details are provided in Annexure-1 Rationale The ratings factor in the strong parentage of HDFC Securities Limited (HSL), which is a subsidiary of HDFC Bank Limited (HDFC Bank; ~97% stake in HSL), its strong linkages with the parent and the shared brand name. The company draws managerial and operational support from HDFC Bank, as evident from the senior management deputations, customer sourcing and cross-selling support, and access to the bank’s retail clientele, branch network and infrastructure. The ratings also consider HSL’s strong retail franchise, supported by its position as a bank brokerage house, and its healthy financial profile characterised by its strong profitability and adequate capitalisation. These strengths are partially offset by the limited diversification in HSL’s business profile, the risks associated with capital markets related businesses and the intense competition in the retail broking space. Key rating drivers and their description Credit strengths Strong parentage with well-demonstrated track record of support from the parent – HSL is a subsidiary of HDFC Bank, which holds a stake of ~97% in the company.
    [Show full text]
  • Gic Housing Finance Ltd
    GIC HOUSING FINANCE LTD. GICHFL/SEC/2021 27th April, 2021 To The Manager, Listing Department, National Stock Exchange of India Limited, ‘Exchange Plaza’, C-1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 Scrip Code: GICHSGFIN Dear Sir, Sub.: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 - Credit Ratings for Non-Convertible Debentures. Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform about the Credit rating obtained for the new limits of NCD issue of the Company as per details given below – Enhanced NCDs Limit Credit Rating Existing Existing NCDs for total NCD Particulars Rating Limit (i.e. Credit Rating limit enhanced by 1000 (Rs. in crores) Crores) (Rs. in Crores) CRISIL AA+/ CRISIL AA+/Stable NCDs 505 Stable by 1505 by CRISIL Program CRISIL me [ICRA] AA+ [ICRA] AA+ 550 (Negative) by 1550 (Negative) by ICRA ICRA The rating letters issued by ICRA Limited and CRISIL Rating Ltd. for enhanced limit of Rs. 1,000 crores are enclosed for your record purpose. We request you to kindly take note of the above information. Thanking You, Yours faithfully, Nutan Singh Group Executive & Company Secretary Encl.: a/a Regd. Office: National Insurance Building, 6th Floor, 14, Jamshedji Tata Road, Churchgate, Mumbai – 400 020. CIN No. : L65922MH1989PLC054583; Tel.:022-43041900 E-mail: [email protected] ; Website: www.gichfindia.com CONFIDENTIAL RL/GICHOUS/267912/NCD/0421/07983/92017560 April 07, 2021 Mr. S. Nutan Company Secretary GIC Housing Finance Limitedx Royal Insurance Building, 6th Floor, 14, J. Tata Road, Churchgate, Mumbai City - 400020 Dear Mr.
    [Show full text]
  • Sakal Media Private Limited - Update on the Details of Lender Facilities
    September 02, 2021 Sakal Media Private Limited - Update on the details of lender facilities Rated Amount (Rs. Instrument Type Lender Name* crore) Long term – Fund-based – Term Loan HDFC Bank 10.5 Long term – Fund-based – Term Loan The Cosmos Co-operative Bank 18.3 Long-term – Fund-based Working Capital Yes Bank 50.0 Long-term – Fund-based Working Capital The Cosmos Co-operative Bank 15.0 Long-term – Fund-based Working Capital HDFC Bank 31.0 Short-term – Non-fund Based Working Capital HDFC Bank 9.0 Long-term/Short-term Unallocated - 36.2 Total 170.0 * as on February 22, 2021 The details presented in this document provide an update on the names of lenders, in reference to the total credit facilities of Sakal Media Private Limited rated by ICRA. To access the previous rating rationale: Click Here. This update is being published as per the directions of the Reserve Bank of India (RBI) to the Credit Rating Agencies (CRAs) vide the communication [CO.DOR.ISG.No.S150/21-06-008/2021-2022] dated June 4, 2021. About ICRA Limited: ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional investment Information and Credit Rating Agency. Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange. The international Credit Rating Agency Moody’s Investors Service is ICRA’s largest shareholder.
    [Show full text]
  • ICICI Bank Limited: Ratings Reaffirmed Rationale
    May 25, 2021 ICICI Bank Limited: Ratings reaffirmed Summary of rating action Instrument* Previous Rated Current Rated Rating Action Amount Amount (Rs. crore) (Rs. crore) Basel III Compliant Tier II Bonds 10,000.00 10,000.00 [ICRA]AAA(hyb)(Stable); reaffirmed Basel III Compliant Additional Tier I Bonds 13,500.00 13,500.00 [ICRA]AA+(hyb)(Stable); reaffirmed Lower Tier II Bonds Programme 5,279.00 5,279.00 [ICRA]AAA(Stable); reaffirmed Lower Tier II Bonds Programme 2,126.00 - [ICRA]AAA(Stable); reaffirmed and withdrawn Unsecured Redeemable Long-term Bonds 33,900.00 33,900.00 [ICRA]AAA(Stable); reaffirmed Programme (Infrastructure Bonds Programme) Long-term Bonds Programme# 488.91 488.91 [ICRA]AAA(Stable); reaffirmed Long-term Bonds Programme# 36.61 - [ICRA]AAA(Stable); reaffirmed and withdrawn Fixed Deposit Programme - - MAAA(Stable); reaffirmed Certificates of Deposit 50,000.00 50,000 [ICRA]A1+; reaffirmed Total 1,15,330.552 1,13,167.91 *Instrument details are provided in Annexure-1 # From erstwhile ICICI Limited; amount outstanding, as on November 30, 2016, including accrued interest on zero coupon bonds Rationale IBL’s ratings are supported by its strong market position across verticals in the financial services sector, which in turn has driven growth of its granular assets and liabilities. IBL is one of the three systemically important banks in India, with its share in banking sector advances rising to 7.04% as on December 31, 2020 from 6.8% as on December 31, 2019 and 6.5% as on December 31, 2018. The ratings continue to factor in the strong capitalisation profile (CET I capital: 16.80% as on March 31, 2021) as well as the bank’s strong ability to raise capital.
    [Show full text]
  • Sharekhan Limited: Rating Reaffirmed; Rated Amount Enhanced Rationale Key Rating Drivers and Their Description
    May 20, 2021 Sharekhan Limited: Rating reaffirmed; Rated amount enhanced Summary of rating action Previous Rated Amount Current Rated Amount Instrument* Rating Action (Rs. crore) (Rs. crore) Commercial Paper (CP) [ICRA]A1+; reaffirmed and 500.00 1,000.00 Programme assigned Total 500.00 1,000.00 *Instrument details are provided in Annexure-1 Rationale For arriving at the rating, ICRA has taken a consolidated view of Sharekhan Limited (SKL) and its subsidiaries. The rating reaffirmation factors in SKL’s strong parentage by virtue of being a part of the BNP Paribas Group (BNP Paribas SA or BNPP, rated Aa3/Stable/P-1 by Moody’s, is SKL’s ultimate parent) and its strategic importance to the parent. The rating also factors in SKL’s considerable track record in the equity broking business, its well-established position in the retail broking space, widespread clientele and its healthy financial profile with improved profitability, strong liquidity and adequate capital structure. While reaffirming the rating, ICRA has factored in SKL’s high dependence on broking income, which remains susceptible to the extent of competition in the industry and the inherent volatility associated with capital markets. The rating also considers the modest loan book size of Sharekhan BNP Paribas Financial Services Limited (SBPFSL), a wholly-owned subsidiary of SKL and a non-banking financial company (NBFC), and the company’s decision to remain focused on capital market-based lending (loan against shares (LAS), margin funding and initial public offering (IPO) funding). ICRA expects the Group’s consolidated gearing to increase in the near to medium term, given the focus on growing the margin trade facility (MTF) book and the expectation of limited accrual to reserves because of the revised dividend payout policy starting FY2021.
    [Show full text]
  • Digitisation
    DIGITAL FIRST Insta Products Seamless Payments FUTURE READY Trustworthy Building Resilience ECOSYSTEM BANKING Partnerships API Banking Co-create Solutions ACCELERATING DIGITISATION ANNUAL REPORT 2020-21 OUR APPROACH TO REPORTING ABOUT THIS REPORT This is ICICI Bank’s Annual Report for the year ended March 31, 2021. It has been prepared in accordance with Indian regulatory reporting requirements as well as the principles of the International Integrated Reporting Framework as developed by the International Integrated Reporting Council (IIRC). Through this report, the Bank aims to provide its stakeholders a comprehensive view of its operations, performance, its financial and non-financial resources and strategy to create long-term value. The report provides insights into the Bank’s primary activities, its strategic priorities, risks and mitigants, governance structure, and the manner in which it has leveraged the six capitals, namely Financial, Human, Intellectual, Manufactured, Social and Relationship, and Natural. REPORTING BOUNDARY The non-financial information in the integrated report largely covers data on the India operations of ICICI Bank Limited and ICICI Foundation for Inclusive Growth. REPORTING PERIOD The Annual Report provides material information relating to the Bank's strategy and business model, operating context, performance and statutory disclosures covering the financial year April 1, 2020 to March 31, 2021. SAFE HARBOUR Certain statements in this Annual Report relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbour' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
    [Show full text]