Jindal Saw's ₹500 Crore NCD Issue Rating Reaffirmed by Brickwork Ratings
Jindal Saw Limited's ₹500 Crore Non-Convertible Debentures (NCDs) issue has had its credit rating reaffirmed as BWR AA/Stable by Brickwork Ratings. The rating is valid until October 7, 2027. This indicates a high degree of safety for timely financial obligation servicing.
A reaffirmed strong credit rating is positive for the company's ability to raise debt and manage its financing costs. It provides comfort to investors and stakeholders regarding the company's financial health.
The credit rating for the company's NCD issue has been reaffirmed at a strong 'AA/Stable' level, indicating a low credit risk and high safety for financial obligations, which is positive for the company.
Jindal Saw Limited has announced that Brickwork Ratings has reaffirmed the credit rating for its Non-Convertible Debentures (NCDs) issue of ₹500 Crores. The rating, initially assigned on October 9, 2025, has been reaffirmed as BWR AA/Stable.
Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk. This reaffirmed rating is valid until October 7, 2027, subject to the terms and conditions outlined in the company's mandate.
The NCDs were issued on March 26, 2021, with a coupon rate of 8.25% payable semiannually and a maturity date of March 31, 2031. The ISIN for these NCDs is INE324A07179.
Brickwork Ratings has also informed that non-submission of a No Default Statement (NDS) on a monthly basis will result in the company's name being published on their website under 'NDS not submitted'. Furthermore, non-submission for three consecutive months or BWR's inability to validate timely debt servicing may lead to the rating being migrated to the Issuer Not Co-operative (INC) category.
What to do with a filing like this
Jindal Saw Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Jindal Saw Limited. Read the original for the full detail.