ICRA Reaffirms Stable Rating for Manoj Vaibhav Gems 'N' Jewellers Limited Working Capital Facilities Worth Rs 511 Crore
Manoj Vaibhav Gems 'N' Jewellers Limited has received a rating reaffirmation from ICRA concerning its bank loan facilities. As of July 10, 2026, the company holds the [ICRA]A- (Stable)/ [ICRA]A2+ rating for its working capital instruments.The overall rated amount for the long-term and short-term fund based and non fund based working capital facilities is Rs 511.00 crore. This reaffirmation covers various dedicated limits granted by multiple financial institutions.
The ratings provided by ICRA are specific to the terms and conditions of the instruments. The detailed structure of the rated amount across different banks and their respective limits is as follows:
| Fund Based/ Non-Fund Based Bank Limits | Amount (Rs. Crore) | Rating | Assigned On |
|---|---|---|---|
| Axis Bank - Working Capital Facilities | 75.00 | [ICRA]A- (Stable)/ [ICRA]A2+ | July 3, 2026 |
| Federal Bank - Working Capital Facilities | 68.00 | [ICRA]A- (Stable)/ [ICRA]A2+ | July 3, 2026 |
| HDFC Bank - Working Capital Facilities | 150.00 | [ICRA]A- (Stable)/ [ICRA]A2+ | July 3, 2026 |
| ICICI Bank - Working Capital Facilities | 80.00 | [ICRA]A- (Stable)/ [ICRA]A2+ | July 3, 2026 |
| Kotak Mahindra Bank - Working Capital Facilities | 20.00 | [ICRA]A- (Stable)/ [ICRA]A2+ | July 3, 2026 |
| Yes Bank - Working Capital Facilities | 118.00 | [ICRA]A- (Stable)/ [ICRA]A2+ | July 3, 2026 |
The total rated amount across all listed facilities is Rs 511.00 crore.
Additional details regarding these limits include:
- Axis Bank Working Capital Facility of Rs 75 crore serves as the sub limit of cash credit.
- Federal Bank has provided Cash Credit of Rs 27 crore, GML of Rs 50 crore, and a BG of Rs 2 crore as sub limits of the WCDL.
- HDFC Bank's Working Capital Facility (WCDL) of Rs 150 crore is structured as a sub limit of cash credit.
- ICICI Bank has provided WCDL of Rs 80 crore and GML of Rs 80 crore, both functioning as sub limits of cash credit.
- Kotak Mahindra Bank's Cash Credit stands at Rs 8 crore as a sub limit of the WCDL.
- Yes Bank provides WCDL of Rs 118 crore, which is noted as a sub limit of cash credit.
MVGJL Stock Price Movement
Manoj Vaibhav Gems N Jewellers Limited shares slipped today, closing at ₹156.15 after shedding 1.66%. The stock saw trading activity between a low of ₹154.91 and a high of ₹162 during the session, with 84,762 shares being exchanged.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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