<h1>Venus Pipes & Tubes receives CRISIL rating review; Long Term Rating reaffirmed at A/Positive</h1>
Venus Pipes & Tubes Ltd has received the reviewed and upgraded Credit Ratings from CRISIL Ratings Limited regarding its bank facilities. The ratings cover a total of Rs. 600 Crore in bank loan facilities, which is an enhancement from the previously rated amount of Rs. 479 Crore.
The refreshed rating details for the company are as follows:
| Rating Metric | Details |
|---|---|
| Total Bank Loan Facilities Rated | Rs. 600 Crore (Enhanced from Rs. 479 Crore) |
| Long Term Rating | Crisil A/Positive (Outlook revised from 'Stable'; Rating Reaffirmed) |
| Short Term Rating | Crisil A1 (Reaffirmed) |
The ratings were assigned by CRISIL Ratings, which maintains continuous surveillance over all its assignments. The company's facilities cover various forms of credit, spanning both short-term and long-term lending arrangements.
Facility Breakdown Details
CRISIL provided a detailed breakdown of the Rs. 600 Crore rated across different financial instruments and participating banks. The bank-wise details include Cash Credit and Letter of Credit facilities alongside Term Loans and Proposed Fund-Based Bank Limits.The detailed breakdown of the Total Bank Loan Facilities Rated (Rs. 600 Crore) is presented below:
| S.No. | Facility Type | Banks Involved | Amount (Rs. in Crore) | Outstanding Rating |
|---|---|---|---|---|
| 1-9 | Bank Guarantee and Letter of Credit | State Bank of India, Axis Bank Limited, RBL Bank Limited | N/A | Crisil A1 / A/Positive |
| 3, 4, 5, 6 | Cash Credit Facilities | RBL Bank Limited, The Federal Bank Limited, State Bank of India, Axis Bank Limited | 203.7 Crore (Total) | Crisil A/Positive |
| 10-13 | Proposed Fund-Based Limits | Various | 109.72 Crore | Crisil A/Positive / A1 |
| 14-18 | Term Loan Facilities | The Federal Bank Limited, State Bank of India, Shinhan Bank | 62.34 Crore (Total) | Crisil A/Positive |
The rated facilities cover various types, including Bank Guarantees and Letters of Credit from major financial institutions like State Bank of India and Axis Bank Limited.
Scope of Rating Activities
CRISIL Ratings confirmed that the rating covers Loan Facilities (Fund/Non-Fund Based) extended by Banks and NBFCs/NHB/FIs. The total facilities assessed amount to Rs. 600 Crore, which is segmented across various types of lending arrangements including Cash Credit, Letter of Credit, Term Loans, and Proposed Fund-Based Bank Limits.VENUSPIPES Stock Price Movement
On Thursday, shares of Venus Pipes & Tubes Limited rallied, settling at ₹1690 after gaining ₹30.60 in trading. The stock saw a volume of 239,455 shares traded and closed near its 52-week high, demonstrating strong upward momentum.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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