ICRA

Vivriti Capital (VCL), which offers lending solutions to mid-market enterprises in the country, has received CRISIL A+/stable rating to its bank facilities, non-convertible debentures (NCDs) and CRISIL A1+ rating for its commercial paper from CRISIL Ratings. The current rating by CRISIL is for ongoing/future issuances (long-term loan, CPs, NCDs) of VCL.

Receives stable rating from CRISIL

Vivriti Capital Ltd., which is registered with the RBI as a non-deposit taking systemically important non-banking financial company, has announced a public issue of secured, rated, listed, redeemable, non-convertible debentures (NCD) of face value of ₹1,000 each for an amount up to ₹250 crore with an option to retain oversubscription up to ₹250 crore cumulatively aggregating up to ₹500 crore.

Vivriti Capital to raise up to ₹500 cr. via NCDs

Vivriti Capital Limited (VCL), a non-banking finance company (NBFC), raised a $25 million senior secured debt facility from the Asian Development Bank (ADB) to lend towards its climate finance initiatives. The 4-year tenor loan is  the first by an NBFC which will be used to expand its green finance portfolio, the company said.The proceeds will fund renewable energy projects and the electric vehicle (EV) ecosystem, with at least 30% allocated to EV infrastructure and on-lending for EV purchases. India has set a target to reduce carbon emissions by one billion tons by 2030 and achieve net zero by 2070.

Vivriti Capital raises $25 million ADB loan for climate bond

Vivriti has a relatively short operational history, having commenced operations in June 2017. This limited track record may raise concerns about the company's ability to sustain its growth rate and effectively manage its operations.

As Vivriti aims for high growth, it needs to strengthen its operational and infrastructure capabilities accordingly. Failing to do so may hinder its ability to support the growth rate and maintain healthy asset quality, especially considering the increasing competitive environment.

Vivriti's credit exposures primarily consist of small and mid-sized NBFCs and corporates with moderate risk profiles. While this may provide a certain level of stability, it also exposes Vivriti to the creditworthiness and financial performance of these entities.

The issuer has made timely interest payments.

Mr. Vineet Sukumar, Founder & MD

Vivriti has been able to increase its assets under management (AUM) since its inception, indicating growth and expanding scale of operations. This demonstrates the company's ability to attract and manage a larger volume of investments.

Vivriti has a diversified portfolio of exposures to various sectors, including financial services entities, non-financial enterprises, co-lending, pass-through certificates, and supply chain finance. This diversification helps in spreading the risk across different sectors and reduces the concentration risk.

Vivriti has reduced its portfolio concentration by increasing the number of non-retail exposures. This indicates a more balanced and diversified portfolio, reducing the potential impact of default or credit issues from a few large exposures.

Security Name: 9.57% Vivriti Capital Limited 06 Mar 2025

ISIN:

INE01HV07411

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ICRA

Senior

Secured

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Vivriti Capital Limited

Recent News

Receives stable rating from CRISIL

Vivriti Capital to raise up to ₹500 cr. via NCDs

Vivriti Capital raises $25 million ADB loan for climate bond

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