CRISIL places Anupam Rasayan's credit ratings on watch

Anupam Rasayan India (ARIL) has received credit ratings for bank facilities (Rs 1620 crore) and non-convertible debentures (Rs 160 crore) at CRISIL A+/ CRISIL A1. These ratings are placed on 'Rating Watch with Developing Implications'.

The ratings have been placed on watch following announcement by ARIL of acquisition of 43.3-48.2% equity stake in Bliss GVS Pharma, a pharmaceutical (pharma) formulations company based in India, which may be funded through debt, equity or internal accrual.