Nuvama Wealth Management Limited — Credit Ratings, 24-09-2025: Credit Rating

Rating agency ICRA has assigned an '[ICRA]AA- (Positive)' rating to Nuvama Wealth Finance (NWFL) and Nuvama Wealth & Investment (NWIL) long-term Principal Protected Market Linked Debentures. NWFL's Commercial Papers – IPO Financing received an '[ICRA]A1+' rating. ICRA also reaffirmed the '[ICRA]AA- (Positive)' rating for their long-term instruments and '[ICRA]A1+' for short-term instruments, maintaining a Positive outlook.