Acuite revises credit ratings of Virinchi's bank facilities; Stock sheds over 2%

Acuité has consolidated business and financial risk profile of Virinchi Limited and its subsidiaries to arrive at the rating.

Sep 17, 2021 12:09 IST India Infoline News Service

Financial Graph
Virinchi Ltd has informed to the exchange that Acuite Ratings & Research on September 15, 2021 has affirmed and upgraded the long-term rating at 'ACUITE BBB-' with the Company's outlook at 'stable'.

Further, short-term ratings has revised to 'ACUITE A3' which was before 'ACUITE A4+'.

Acuité has consolidated business and financial risk profile of Virinchi Limited (VL) and its subsidiaries including Virinchi Healthcare Private Limited (VHPL) together referred as Virinchi Group (VG) to arrive at the rating.

Hyderabad based Virinchi Limited (VL) was incorporated in 1990 by Mr. Vishwanath Kompella, engaged in the business of providing IT based products and services to fintech companies. 

At around 12:59 PM, Virinchi was trading at Rs58.60 apiece down by Rs1.4 or 2.33% from its previous closing of Rs60 apiece on the BSE.

Related Story

Open Free Demat Account (Rs699)