Pursuant to SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018 ( As amended from time to time) in respect to fund raising by issuance of debt securities by Large Corporate ....
Awaiting price reaction for this filing.
Gammon India Ltd has informed the stock exchanges (BSE and NSE) that it does not qualify as a 'Large Corporate' under the SEBI Circular dated November 26, 2018, which governs fund-raising through debt securities. The company stated that it does not meet the criteria for Large Corporate classification as on 31st March 2026. The primary reason cited is that the company's credit rating is not 'AA and above'. Consequently, the mandatory disclosure requirements applicable to Large Corporates will not apply to Gammon India for the financial year 2026-27.
This is primarily a procedural compliance filing with no direct impact on shareholders. However, it indirectly indicates that Gammon India's credit rating remains below AA, which may affect its cost of borrowing in the debt market and reflects on its financial standing.