Bangalore +91 80 4040 9940
Mumbai +91 22 2831 1426 / 39
Ahmedabad +91 79 6617 4046 / 47
Chennai +91 73058 74973
Hyderabad +91 40 2331 0131
Kolkata +91 98301 96968
New Delhi +91 11 2341 2232
Common Ph 1-860-425-2742
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Non-accepted  Ratings

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z [0-9]
Name of the IssuerSectorInstrument TypeIssue Size ( Rupees in Millions)Date of Non-acceptanceListing StatusRating Assigned
Chennai Fresh FoodsAgriculture & Agro-Based Products BLR Rating - Long Term 183.917 May 2022Unlisted BWR B +
Titagarh Enterprises Ltd.Real Estate BLR Rating - Long Term 365.417 May 2022Unlisted BWR BB +
Shravan Electrical ContractorReal Estate BLR Rating - Long Term / Short Term 40011 May 2022Unlisted BWR BB / BWR A4
Affle (India) Ltd.IT & ITES BLR Rating - Long Term 1559.509 May 2022Listed BWR A +
Aggarwwal ExportsChemicals & Chemical Products BLR Rating - Long Term / Short Term 34004 May 2022Unlisted BWR BB / BWR A4 +
Aavya Agri Science Pvt. Ltd.FMCG Credit Rating - Compulsorily Convertible Debentures 73002 May 2022Unlisted BWR BB -
Samurai TradexAgriculture & Agro-Based Products BLR Rating - Long Term / Short Term 46013 Apr 2022Unlisted BWR BB - / BWR A4
Mittal Brothers Engineers and ContractorsConstruction & Construction Materials BLR Rating - Long Term 49012 Apr 2022Unlisted BWR BB
MLU Metaliks Pvt. Ltd.Metal & Metal Products BLR Rating - Long Term 27009 Apr 2022Unlisted BWR BB
Golden Texo Fabs Pvt. Ltd.Textile & Accessories BLR Rating - Long Term / Short Term 1749.604 Apr 2022Unlisted BWR A - / BWR A1
Pulikkottil Devices Distributors Pvt. Ltd.Consumer Durables BLR Rating - Long Term 24004 Apr 2022Unlisted BWR B +
SAR Coatings LLPChemicals & Chemical Products BLR Rating - Long Term 9204 Apr 2022Unlisted BWR BB -
AI Instruments Pvt. Ltd.Textile & Accessories BLR Rating - Long Term / Short Term 93002 Apr 2022Unlisted BWR B + / BWR A4
Morbido Vinyl Pvt. Ltd.Miscellaneous BLR Rating - Long Term 6029 Mar 2022Unlisted BWR BB
Kashmir Valley Motor Pvt. Ltd.Automobiles & Auto Ancillary BLR Rating - Long Term 50028 Mar 2022Unlisted BWR BB -
Dimple Realtors Pvt. Ltd.Real Estate BLR Rating - Long Term 20022 Mar 2022Unlisted BWR BB +
Anahita Hospitality LLPHotels & Tourism BLR Rating - Long Term 601.315 Mar 2022Unlisted BWR BB
Active Clothing Co. Ltd.Textile & Accessories BLR Rating - Long Term 621.712 Mar 2022Listed BWR BB +
Camson IndustriesConstruction & Construction Materials BLR Rating - Long Term 6007 Mar 2022Unlisted BWR B -
Jagdish Marine ExportsFMCG BLR Rating - Long Term 77.105 Mar 2022Unlisted BWR B
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* denotes that ratings have been subsequently accepted.

** denotes that provisional ratings has been alloted to this company.

Steps for assigning provisional ratings

  • The Provisional CE Rating is subject to the fulfilment and review of all pending actions/documentation pertaining to the facility rated by BWR, specifically the execution of corporate guarantee deeds by Indiabulls Real Estate Limited towards the proposed NCD issue amounting to Rs.350 Cr to be issued by Indiabulls Infraestate Limited, receipt of the executed Debenture Trust Deed and / or financing documents with contours of structure in line with the draft term sheet shared with BWR.
  • The final rating may differ from the provisional rating in case the completed actions / documentation is not in line with BWR’s expectations at the time of assigning provisional ratings.
  • The final rating assigned shall be consistent with the available documents or completed steps, as applicable.
  • Ratings that would have been assigned in the absence of pending steps and documentations:- BWR A- (Credit Watch With Developing Implications)