Credit rating agency, ICRA has reaffirmed the long-term rating of BB and short-term rating of A4 assigned to the term loans, fund based facilities and non-fund based facilities of Bedmutha Industries (BIL) aggregating to Rs 80.75 crore. The long-term rating has a stable outlook.
The reaffirmation of ratings takes into account the successful completion of the company’s IPO (Initial Public Offering) in October 2010 thereby strengthening its net worth size, its established track record in the wire manufacturing business, healthy growth in production levels with regular increase in production capacities and a reputed and well-diversified customer profile.
Bedmutha Industries is leading steel wire manufacturers in western India located in Nashik. The company started its commercial production in the year 1992, by setting up first Galvanized Wire plant at Nashik with an installed capacity of 3600 MTPA.
