Share India Securities' Acuité ratings upgraded, then withdrawn

Credit rating
stock broking and financial services

Blacklitt Research22 October 20262 min read

Share India Securities (NSE: SHAREINDIA) saw Acuité Ratings & Research upgrade and then withdraw some ratings on its debt instruments and facilities, while withdrawing others without any rating, it said in a filing on 22 Oct 2026. The rated facilities include a ₹949 crore short term bank loan facility, and the company says its existing debt is rated by CRISIL.

Key highlights

Upgraded and withdrawn: ACUITE A+ on ₹2.00 crore long term bank loan
Upgraded and withdrawn: ACUITE A1+ on ₹949.00 crore short term bank loan
Withdrawn with no rating: ₹68.00 crore long term bank loan and ₹150.00 crore NCDs
Email intimation received 21 Oct 2026 at about 6:30 p.m.

The rating action in numbers

Item	Detail
Rating agency	Acuité Ratings & Research Limited
Long term bank loan, ₹2.00 crore	ACUITE A+, upgraded and withdrawn
Long term bank loan, ₹68.00 crore	Withdrawn, no rating assigned
Non-convertible debentures, ₹150.00 crore	Withdrawn, no rating assigned
Short term bank loan, ₹949.00 crore	ACUITE A1+, upgraded and withdrawn
Short term bank loan, ₹381.00 crore	Withdrawn, no rating assigned
Email intimation received	21 Oct 2026, about 6:30 p.m.

Upgrades followed by withdrawal

Acuité upgraded two of the rated facilities before withdrawing them: the ₹2.00 crore long term bank loan, rated ACUITE A+, and the ₹949.00 crore short term bank loan, rated ACUITE A1+. The filing lists both as upgraded and withdrawn.

The filing does not say why Acuité upgraded these ratings before withdrawing them.

Ratings withdrawn without a rating

Three facilities were withdrawn with the rating shown as Not Applicable: a ₹68.00 crore long term bank loan, ₹150.00 crore of non-convertible debentures and a ₹381.00 crore short term bank loan.

The company's earlier disclosure of 29 May 2026 said it had moved its credit rating arrangements to CRISIL Ratings Limited and had told Acuité it would not obtain ratings from Acuité going forward. The filing says Acuité continued to rate some instruments with the comment 'Issuer not co-operating'. The company then shared information with Acuité, which led to the rating action set out above.

What the Acuité action means for Share India Securities' shareholders

The filing says the company's existing debt instruments and facilities are rated by CRISIL, and that those ratings remain in force and have been reaffirmed from time to time. The CRISIL ratings are available on the websites of CRISIL and the company.

The filing does not say whether the Acuité action affects the company's CRISIL ratings or its borrowing terms, whether any fee was paid for the Acuité ratings, or whether the company plans any further action on the withdrawn Acuité ratings. No later dated step is given in the filing.

Reference: Original filing (PDF)

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