ICRA withdraws rating of Share India Securities' bank facilities worth Rs500 crore; stock dips ~3%

Share India Securities Limited informed that upon the request of the Company, the ICRA Limited (Credit Rating Agency) has withdrawn the rating of [ICRA] A2+ rating assigned to Rs500 crore of short-term non-fund-based facilities of the Company.

Apart from that company’s bank loan worth Rs190 crore holds an ‘ACUITE A’ rating. Another bank loan worth Rs810 crore holds an ‘ACUITE A1’ rating.

ACUITE has given an ‘ACUITE A’ rating to the company’s Non-Convertible Debentures worth Rs150 crore.

Company’s commercial paper worth Rs150 crore holds ‘CRISIL A2+’ ratings from CRISIL.

At around 3.18 PM, Share India Securities was trading 2.77% lower at Rs1,141.50, against previous close of Rs1,174.05 on NSE. It hit intraday high and low of Rs1,188 and Rs1,136.05 respectively.

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