SRG Housing Finance Limited Voluntarily Withdraws CARE Credit Rating

1 min read     Updated on 25 Mar 2026, 03:01 AM
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Radhika SScanX News Team
AI Summary

SRG Housing Finance Limited has voluntarily withdrawn its credit rating from CARE Ratings Limited, as disclosed to stock exchanges under SEBI regulations. The company requested the withdrawal as it already maintains an ACUTE BBB+ (Positive) rating from Acuité Ratings & Research Limited. CARE Ratings confirmed the withdrawal on March 24, 2026, following the company's February 04, 2026 email request, and advised cessation of the withdrawn rating's usage.

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SRG Housing Finance Limited has announced the voluntary withdrawal of its credit rating by CARE Ratings Limited, as communicated to the National Stock Exchange and BSE Limited under Regulation 30 of SEBI LODR regulations. The withdrawal was processed at the company's own request, reflecting a strategic decision regarding its credit rating arrangements.

Company's Rationale for Withdrawal

The housing finance company voluntarily requested the withdrawal as it already maintains an existing credit rating from another agency. The company's current rating profile includes:

Rating Details: Information
Current Rating: ACUTE BBB+ (Positive)
Rating Agency: Acuité Ratings & Research Limited
Withdrawn Rating: CARE Ratings Limited
Withdrawal Date: March 24, 2026

CARE Ratings' Confirmation

CARE Ratings Limited confirmed the withdrawal through an official communication addressed to Chief Financial Officer Ashok Modi. The rating agency processed the withdrawal request in compliance with their established withdrawal policy, following the company's email request dated February 04, 2026.

Key aspects of the withdrawal process include:

  • Withdrawal processed at company's request via email dated February 04, 2026
  • Compliance with CARE Ratings' standard withdrawal policy
  • Official announcement through press release by the rating agency
  • Instruction to cease using withdrawn ratings for any purpose

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. Company Secretary Divya Kothari signed the regulatory filing, ensuring proper compliance with stock exchange requirements.

Future Rating Services

CARE Ratings has indicated its willingness to provide rating services in the future should the company require them. The rating agency maintains its standard procedures for any future rating requirements from SRG Housing Finance Limited.

The withdrawal reflects the company's decision to streamline its credit rating arrangements while maintaining its existing ACUTE BBB+ (Positive) rating from Acuité Ratings & Research Limited.

Source: None/Company/INE559N01010/495dda35-2d37-42d3-9b3d-bd625ed9e778.pdf

Will SRG Housing Finance's decision to rely solely on Acuité Ratings impact its ability to access diverse funding sources or institutional investors?

How might the positive outlook on SRG's ACUTE BBB+ rating influence the company's expansion plans in the competitive housing finance sector?

Could this rating consolidation strategy signal SRG's preparation for a potential upgrade or downgrade from its remaining rating agency?

SRG Housing Finance Completes Monthly Interest Payment and Partial Redemption

2 min read     Updated on 27 Feb 2026, 08:23 PM
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Reviewed by
Naman SScanX News Team
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SRG Housing Finance Limited successfully executed its monthly debt servicing obligations on February 27, 2026, completing interest payment of ₹42.96 lakh (after TDS) and partial redemption of ₹75.76 lakh for its secured redeemable Non-Convertible Debentures (ISIN: INE559N07058). The payments were made one day ahead of the February 28 due date due to business convention considerations, demonstrating the company's commitment to timely debt management across its ₹50 crore debenture issue.

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SRG Housing Finance Limited has successfully completed its monthly interest payment and partial redemption obligations for its secured redeemable Non-Convertible Debentures on February 27, 2026. The company informed BSE Limited about the completion of these financial obligations in compliance with SEBI regulations.

Interest Payment Details

The company executed its monthly interest payment schedule with precision, demonstrating its commitment to timely debt servicing obligations for a different series of debentures.

Parameter: Details
ISIN: INE559N07058
Interest Amount Due: ₹43.76 lakh
Interest Amount Paid: ₹42.96 lakh (after TDS)
Payment Frequency: Monthly
Record Date: February 13, 2026
Due Date: February 28, 2026
Actual Payment Date: February 27, 2026

The interest payment was completed one day prior to the scheduled due date, as the due date fell on a non-working/business convention day. The company noted that the previous interest payment was made on January 29, 2026.

Debenture Issue Structure

The Non-Convertible Debentures represent a significant component of SRG Housing Finance's funding structure, designed to support the company's lending operations.

Specification: Details
Total Issue Size: 5,000 NCDs
Face Value per NCD: ₹1,00,000
Total Issue Value: ₹50,00,00,000
Green Shoe Option: 1,500 NCDs (₹15,00,00,000)
Nature: Rated, secured, listed, senior, transferable, redeemable

Partial Redemption Execution

SRG Housing Finance executed a partial redemption of its debentures on February 27, 2026, following a systematic face value redemption approach on a pro-rata basis.

Redemption Parameter: Details
Redemption Type: Partial
Redemption Method: By face value redemption
Redemption Basis: Pro-rata basis
Redemption Reason: Monthly Redemption
Due Date: February 28, 2026
Actual Redemption Date: February 27, 2026
Amount Redeemed: ₹75,75,757.58
Outstanding Amount: ₹4,54,54,54,54.55

Regulatory Compliance

The company's intimation to BSE Limited was made in accordance with Regulations 30 and 57(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the requirements outlined in SEBI Master Circular Ref. No. SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2024/48 dated May 21, 2024, ensuring complete transparency in debt servicing activities.

Company Secretary Divya Kothari signed the compliance document digitally, confirming the completion of both interest payment and redemption obligations without any delays or non-payment issues. The systematic approach to monthly redemptions demonstrates SRG Housing Finance's structured debt management strategy across multiple debenture series.

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