Credit rating agency CARE has assigned A1 rating to the proposed Commercial Paper (CP) issue carved out of the working capital limits of Innoventive Industries. The rating agency has also assigned to A1+ (SO) rating to the proposed CP issue backed by SBLC from a Bank.
Innoventive Industries was incorporated for manufacturing of domestic appliances. It is a multiproduct company catering to applications in diverse sectors such as automobile, boiler and heat exchangers, energy, oil and general engineering. It specializes in processing various types of steel, faster development cycles, flexible production systems, effective supply chain management for efficient delivery and capability to make tubular transformations.
