In a filing to the Bombay Stock Exchange, the company said, “It has issued commercial papers of an aggregate amount of Rs 25 crore on November 15, 2016, which have been rated ‘A1+’ by a leading rating agency.”
Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.
The company further said that the aggregate amount of commercial papers outstanding as on date is Rs 475 crore.
Meanwhile, shares of the company closed at Rs 685.25 apiece, up 8.22 per cent, from previous close on BSE.