Infomerics Rating to expand in 3 cities, hire 30 professionals

KOLKATA: Rating company Infomerics Valuation & Rating Pvt Ltd is planning to start operation in Ahmedabad, Bangalore and Chennai to tap the opportunities available in these centres with companies looking to rate their creditworthiness before every fund raising and regulators pushing for multiple ratings to promote transparency.
Infomerics which is into its third year of business has presence in Delhi, Mumbai. Kolkata and Hyderabad at present.

The firm is also looking to nearly double its headcount in FY19 to support the growth plan.


“Strengthening the team at the existing locations and adequate staffing at the new locations are the major driving factors behind the recruitment plan. Our current focus is to create a position among the large and mid-corporates,” Infomerics chief executive officer Sukanta Nag told ET.

The firm is planning to hire about 30 professionals to ramp up headcount from the current level of 40. Nag said the most of the vacancies are in the rating and business development verticals.

The rating market has widened with every corporate now looking to rate their bonds before raising capital in private placement market. A good rating help companies reduce borrowing cost.

Credit rating is compulsory for bank loans above Rs 5 crore, and fund raising through instruments like non-convertible debenture (NCD) and commercial paper. For NCD above Rs 1000 crore, issuers need to rate the instrument by at least two raters.

Many a corporate are also resorting to dual or multiple ratings as the regulators are pushing it to improve transparency. “Dual or multiple ratings are more of rules now, rather than exceptions,” Nag said.