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Zen Technologies Ltd. Capital/Financing Update 2025
60795_rns_2025-01-27_637dd5d3-eab8-426f-8550-6132c5f6d641.pdf
Capital/Financing Update
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January 27, 2025
To Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
To Dept. of Corp. Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400 001
Symbol: ZENTEC
Scrip Code: 533339
Dear Sir/Madam,
Sub: Intimation regarding Credit Rating under Regulation 30 of SEBI Listing Regulations.
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), please note that CRISIL Ratings ("CRISIL") has upgraded / reaffirmed the credit ratings on bank facilities of the Company.
In this regard, please find below the revised ratings outstanding for debt instruments/ facilities of the Company, and the rating actions by CRISIL on the ratings as on date-
| Total Bank Loan Facilities Rated | Rs. 256 Crore |
|---|---|
| Long Term Rating | CRISIL A / Positive (Upgraded from 'CRISIL A- |
| /Stable') | |
| Short Term Rating | CRISIL A1 (Reaffirmed) |
The rating letter received from CRISIL is attached herewith.
This is for your kind information and records.
Thanking you
Yours faithfully,
Company Secretary & Compliance Officer
Encl: As above
CONFIDENTIAL
RL/ZETELI/361213/BLR/0125/107924 January 27, 2025
Ms. Shilpa Choudari Whole Time Director Zen Technologies Limited B-42, Industrial Estate Sanath Nagar, Hyderabad - 500018
Dear Ms. Shilpa Choudari,
Re: Review of Crisil Ratings on the bank facilities of Zen Technologies Limited
All ratings assigned by Crisil Ratings are kept under continuous surveillance and review.
Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by Crisil Ratings on the ratings as on date.
| Total Bank Loan Facilities Rated | Rs.256 Crore |
|---|---|
| Long Term Rating | Crisil A/Positive (Upgraded from 'Crisil A-/Stable') |
| Short Term Rating | Crisil A1 (Reaffirmed) |
| . |
(Bank-wise details as per Annexure 1)
As per our Rating Agreement, Crisil Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. Crisil Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which Crisil Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s.
In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from Crisil Ratings will be necessary.
This letter will remain valid till March 31, 2025. After this date, please insist for a new rating letter (dated later than March 31, 2025).
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Winout Show
Himank Sharma Director - Crisil Ratings
Nivedita Shibu Director - Crisil Ratings
Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings' criteria are available without charge to the public on the web site, www.crisitratings.com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating
information on any instrument of any company rated b [email protected] or at 1800-267-1301
Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Office Address: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai - 400 072, India. Registered Office Address: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400 076, India. Phone: +91 22 6137 3000 | www.crisilratings.com
| S.No. | Bank Facility | Bank | Amount (Rs. in Crore) |
Outstanding Rating |
|---|---|---|---|---|
| Fund-Based Facilities | ICICI Bank Limited | 25 | Crisil A/Positive | |
| $\overline{2}$ | Fund-Based Facilities | Axis Bank Limited | 10 | Crisil A/Positive |
| 3 | Fund-Based Facilities | Indian Bank | Crisil A/Positive | |
| $\overline{4}$ | Fund-Based Facilities | HDFC Bank Limited | 15 | Crisil A/Positive |
| 5 | Non-Fund Based Limit | HDFC Bank Limited | 113 | Crisil A1 |
| 6 | Non-Fund Based Limit | ICICI Bank Limited | 25 | Crisil A1 |
| Non-Fund Based Limit | Exim Bank | 18 | Crisil A1 | |
| 8 | Non-Fund Based Limit | Indian Bank | 45 | Crisil A1 |
| Total | 256 |
Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)
Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings' current opinion on the ilkelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings' criteria are available without charge to the public on the web site, www.cristinatings.com, Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated b [email protected] or at 1800-267-1301
Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Office Address: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai - 400 072, India. Registered Office Address: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400 076, India. Phone: +91 22 6137 3000 | www.crisilratings.com
