ICRA rates Sharekhan's Rs 200 cr IPO funding program
ICRA assignes 'A1' rating to the Rs-200 crore short-term debt programme of ShareKhan Financial Services
By PTI |
NEW DELHI: Credit rating agency ICRA on Thursday assigned the highest credit quality 'A1' rating to the Rs-200 crore short-term debt programme of ShareKhan Financial Services (SFSL).
The rating assigned to the instrument from ShareKhan, a non-banking financial institution (NBFC), is to fund Initial Public Offers (IPO) and would be valid till February 28 this year, ICRA said.
The rating arose out of "Sharekhan having adequate experience in the retail equity broking. The favourable Sharekhan brand image, groups comfortable capitalisation, and adequate risk management systems employed by the company," ICRA said.
SFSL is a subsidiary of Sharekhan and was primarily involved in the business of share trading till last year but at present the company is also engaged in the IPO funding business.
Although the company has to deal with its dependence on the cyclical nature of the company's primary business of equity broking, and short-track record of IPO financing, the agency added.
The rating assigned to the instrument from ShareKhan, a non-banking financial institution (NBFC), is to fund Initial Public Offers (IPO) and would be valid till February 28 this year, ICRA said.
The rating arose out of "Sharekhan having adequate experience in the retail equity broking. The favourable Sharekhan brand image, groups comfortable capitalisation, and adequate risk management systems employed by the company," ICRA said.
SFSL is a subsidiary of Sharekhan and was primarily involved in the business of share trading till last year but at present the company is also engaged in the IPO funding business.
Although the company has to deal with its dependence on the cyclical nature of the company's primary business of equity broking, and short-track record of IPO financing, the agency added.
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