ICRA Assigns Ratings for Sandhar Technologies Limited's Borrowing Facilities
ICRA Limited has assigned credit ratings for several borrowing facilities extended to Sandhar Technologies Limited by its bankers. The ratings cover long term fund based Term Loans, Long term/Short term Fund Based Working Capital Facilities, and Long term Unallocated facilities.The rating assignments provide insight into the company’s financial capacity related to these debt instruments.
Aggregate Facility Rating Summary
Based on the assessment by ICRA Limited, Sandhar Technologies Limited holds a total rated borrowing facility of Rs 885 Crore across multiple instrument types. The ratings assigned are detailed below:| Instrument | Rated Amount (Rs. Crore) | Assigned Rating |
|---|---|---|
| Long term Fund based Term loans | 53.44 | [ICRA]AA-(Stable) |
| Long-term/ Short term Fund based working capital Facilities | 750 | [ICRA]AA-(Stable)/[ICRA]A1+ |
| Long term Unallocated facilities | 81.56 | [ICRA]AA-(Stable) |
| Total | 885 |
Detailed Ratings for Key Debt Instruments
ICRA Limited provided specific ratings and assigned dates for the instruments, which are crucial for lenders and investors. The rating assignments include a detailed breakdown of facilities across different banks.The total rated amount for Long term Fund based Term loans was Rs 53.44 Crore, receiving an [ICRA]AA-(Stable) rating. This facility includes limits from Citibank N.A. (rated at Rs 40.31 Crore) and Bajaj Finance Limited (rated at Rs 13.13 Crore).
For Long term Unallocated facilities, totaling Rs 81.56 Crore, the assigned rating is [ICRA]AA-(Stable).
The most significant facility, covering Long-term/Short term Fund based Working Capital Facilities, amounts to Rs 750 Crore and has been assigned a dual rating of [ICRA]AA-(Stable)/[ICRA]A1+. This working capital facility includes limits from several financial institutions. A selection of these facilities are detailed below:
| Bank | Rated Amount (Rs. crore) | Rating |
|---|---|---|
| Citibank N.A. | 210 | [ICRA]AA-(Stable)/[ICRA]A1+ |
| HDFC Bank Limited | 40 | [ICRA]AA-(Stable)/[ICRA]A1+ |
| Yes Bank Limited | 80 | [ICRA]AA-(Stable)/[ICRA]A1+ |
| ICICI Bank Limited | 140 | [ICRA]AA-(Stable)/[ICRA]A1+ |
| Kotak Mahindra Bank Limited | 80 | [ICRA]AA-(Stable)/[ICRA]A1+ |
The rating assignments are specific to the terms and conditions of the instruments. ICRA noted that any change in the terms or size of these rated instruments would necessitate a review by the agency, requiring notification from Sandhar Technologies Limited.
SANDHAR Stock Price Movement
Sandhar Technologies Limited’s shares climbed today, closing at ₹718.25 after post-market trading saw the stock gain 3.27% on the day. The performance was remarkable as the equity tested crucial levels, signaling a strong run up and reflecting testing of its 52-week high.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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