Subsidiary Tykoon Mines bank loans rated at Rs 250 Cr, ratings reaffirmed
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Subsidiary Tykoon Mines GK had its bank loan facilities of Rs 250 Crore rated by Infomerics, up from Rs 200 Crore earlier. Long term rating reaffirmed at IVR BBB-/Stable and short term at IVR A3, indicating stable credit quality. The rating covers facilities from RBL Bank, Axis Bank, HDFC Bank and Canara Bank. A Kotak Mahindra bank guarantee facility was withdrawn. Ratings were based on FY26 audited performance and are valid for one year.
Stable ratings with Rs 50 Crore rise in loan limit signal continued lender confidence in subsidiary. No rating change, neutral for stock.