Indag Rubber Limited Declares Non-Applicability of SEBI Debt Securities Framework for FY26
Indag Rubber Limited has declared to BSE that it does not qualify as a Large Corporate entity as on March 31, 2026, exempting it from SEBI's debt securities framework. The company reported nil outstanding borrowing and maintained A- (Negative) long-term and A2+ short-term credit ratings from ICRA Limited during FY 2025-26. This declaration ensures compliance with regulatory disclosure requirements while confirming non-applicability of mandatory debt market borrowing rules.

*this image is generated using AI for illustrative purposes only.
Indag Rubber Limited has officially informed BSE Limited that it does not qualify as a Large Corporate entity as on March 31, 2026, thereby exempting it from compliance with SEBI's framework for fund raising through debt securities.
Regulatory Compliance Declaration
The company submitted its declaration on April 7, 2026, referencing SEBI Circular No. SEBI/HO/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, and related BSE circulars. The framework requires large corporate entities to raise a specified portion of their funding through debt securities rather than traditional bank borrowing.
| Parameter | Details |
|---|---|
| Company Name | Indag Rubber Limited |
| CIN | L74899DL1978PLC009038 |
| Outstanding Borrowing (March 31, 2026) | Nil |
| Stock Exchange for Fine Payment | BSE Ltd. |
Credit Rating Status
During FY 2025-26, ICRA Limited assigned credit ratings to Indag Rubber Limited, reflecting the company's creditworthiness assessment. The rating agency provided both long-term and short-term credit evaluations.
| Rating Type | Rating | Rating Agency |
|---|---|---|
| Long-term Credit Rating | A- (Negative) | ICRA Limited |
| Short-term Credit Rating | A2+ | ICRA Limited |
Framework Implications
The SEBI framework mandates that entities classified as Large Corporates must raise a minimum portion of their incremental borrowing through debt securities. In case of shortfall, a fine of 0.2% of the shortfall amount is levied by stock exchanges at the end of the two-year block period.
Since Indag Rubber Limited does not fall under the Large Corporate category as per the applicability criteria outlined in clause 3.2 of the SEBI circular, the company is not subject to these mandatory borrowing requirements through debt markets.
Corporate Officers
The declaration was signed by key corporate officers, ensuring proper authorization and compliance with regulatory requirements:
- Sonal Garg - Company Secretary & Compliance Officer
- Anil Bhardwaj - CFO & GM (Accounts)
The company has requested BSE Limited to take this declaration on record, completing the necessary regulatory disclosure requirements for the financial year ended March 31, 2026.
Historical Stock Returns for Indag Rubber
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.43% | +6.80% | +10.19% | -18.05% | -20.79% | +15.74% |
What factors could cause Indag Rubber to qualify as a Large Corporate in future years and trigger mandatory debt securities requirements?
How might the company's negative outlook on its A- credit rating impact its future financing options and borrowing costs?
Will Indag Rubber's zero outstanding borrowing position change as the company pursues growth opportunities in the rubber industry?


































