ICRA rating for Rs. 500.0 crore Commercial Paper of KRBL Limited

The Rating Committee of ICRA, after due consideration of the latest developments in your company, has reaffirmed the rating at [ICRA]A1+ (pronounced as ICRA A one plus) and removed it from Rating Watch with Negative implications, for the aforementioned - instrument. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

The rating, as aforesaid, however, should not be treated as a recommendation to buy, sell or hold the Commercial Paper issued by you. The above rating of "[ICRA]A1+" is assigned to your Commercial Paper size of Rs 500.0 crore and the maximum amount raised through Commercial Paper at any point in time, including any amount already outstanding, should not exceed Rs 500.0 crore. In case, you propose to enhance the size of the Commercial Paper, the same would be required to be rated afresh. ICRA does not assume any responsibility on its part, for any liability, that may arise consequent to your not complying with any eligibility criteria, applicable from time to time, for issuance of Commercial Paper.

Shares of KRBL LTD. was last trading in BSE at Rs.243.2 as compared to the previous close of Rs. 252.05. The total number of shares traded during the day was 45931 in over 1901 trades.

The stock hit an intraday high of Rs. 256.9 and intraday low of 232.95. The net turnover during the day was Rs. 11046782.

Source : Equity Bulls

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