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Entity-Specific Rating Rationales

26 Mar 2026

Sarvagram Fincare Private Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC backed by MSME business loan receivables issued by Jirachi 2026

Sarvagram Fincare Private Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC backed by MSME business loan receivables issued by Jirachi 2026

27 Feb 2026

Sarvagram Fincare Private Limited: [ICRA]BBB+ (Stable) assigned to NCD; ratings reaffirmed and rated amount enhanced

Sarvagram Fincare Private Limited: [ICRA]BBB+ (Stable) assigned to NCD; ratings reaffirmed and rated amount enhanced

28 Jul 2025

Sarvagram Fincare Private Limited: Rating reaffirmed for PTCs/SNs backed by secured and unsecured loan receivables issued by Magnolia 2024 and RACHAEL TRUST 02 2024

Sarvagram Fincare Private Limited: Rating reaffirmed for PTCs/SNs backed by secured and unsecured loan receivables issued by Magnolia 2024 and RACHAEL TRUST 02 2024

03 Feb 2025

Sarvagram Fincare Private Limited: Ratings upgraded; rated amount enhanced and assigned ratings for NCD

Sarvagram Fincare Private Limited: Ratings upgraded; rated amount enhanced and assigned ratings for NCD

04 Sep 2024

Sarvagram Fincare Private Limited: Rating reaffirmed; rated amount enhanced; [ICRA]A3+ assigned

Sarvagram Fincare Private Limited: Rating reaffirmed; rated amount enhanced; [ICRA]A3+ assigned

25 Jul 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for PTCs backed by secured and unsecured loan receivables issued by Magnolia 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for PTCs backed by secured and unsecured loan receivables issued by Magnolia 2024

25 Jul 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for securities backed by secured loan receivables issued by RACHAEL TRUST 02 2024

Sarvagram Fincare Private Limited: Rating confirmed as final for securities backed by secured loan receivables issued by RACHAEL TRUST 02 2024

05 Mar 2024

Sarvagram Fincare Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 SN backed by a pool of secured loan receivables issued by RACHAEL TRUST 02 2024

Sarvagram Fincare Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 SN backed by a pool of secured loan receivables issued by RACHAEL TRUST 02 2024

08 Feb 2024

Sarvagram Fincare Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC backed by a mixed pool of secured and unsecured loan receivables issued by Magnolia 2024

Sarvagram Fincare Private Limited: Provisional [ICRA]A(SO) assigned to Series A1 PTC backed by a mixed pool of secured and unsecured loan receivables issued by Magnolia 2024

08 Jan 2024

Sarvagram Fincare Private Limited: [ICRA]BBB (Stable) assigned

Sarvagram Fincare Private Limited: [ICRA]BBB (Stable) assigned

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Entity-Specific Credit Perspective Reports

30 Mar 2026

Sarvagram Fincare Private Limited

Sarvagram Fincare Private Limited (Non-SF)

26 Mar 2026

Sarvagram Fincare Private Limited

Sarvagram Fincare Private Limited (SF)

04 Mar 2025

Sarvagram Fincare Private Limited

Sarvagram Fincare Private Limited (Non-SF)

07 Mar 2024

Sarvagram Fincare Private Limited

Sarvagram Fincare Private Limited (SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Series A1 PTC -- -- Provisional [ICRA]A-(SO) --
NCD -- -- [ICRA]BBB+(Stable) --
NCD -- -- [ICRA]BBB+(Stable) --
Long-term/Short-term – Fund-based – Others [ICRA]A2 -- [ICRA]BBB+(Stable) --
Series A1 PTC -- -- [ICRA]A(SO) --
Series A1 SN -- -- [ICRA]A(SO) --

Our Analysts

Analyst 1

Atharva Pednekar

Analyst 2

Srinivasan Rangaswamy

Sector Head

Karthik Srinivasan
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