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Ind Ra assigns GP Petroleums at 'IND BBB-' with Stable outlook

The current market cap of the company is Rs255.15cr.

October 25, 2021 3:31 IST | India Infoline News Service
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India Ratings and Research (Ind-Ra) has assigned GP Petroleums Limited (GPPL) a Long-Term Issuer Rating of 'IND BBB-/IND A3'. The Outlook is Stable.

According to the rationale, Ind-Ra has assessed the standalone credit profile of GPPL, as the agency has received a management undertaking stating that the ongoing reorganisation and rephasement of the business operations and financial resources of promoters, GP Global APAC Pte Ltd (GPGAPL; 53.55% shareholding) and Nivaya Resources Pvt. Ltd (NRPL; 19.09%), or any group company will not have any impact on the operations and activities of GPPL.

GP Petroleums ended at Rs49.65 apiece down by Rs0.4 or 0.8% from its previous closing of Rs50.05 apiece on the BSE.

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