Gujarat Themis Biosyn Limited — Credit Ratings, 20-07-2026: Credit Rating- Revision

CARE Ratings placed Gujarat Themis Biosyn's Long-term bank facilities at CARE BBB (RWN) and Short-term facilities at CARE A3+ (RWN), both on Rating Watch with Negative Implications. This reflects concerns over GTBL's significant acquisition plans, totaling ~₹3,000 Cr (¥1.5 Billion Japan, €158 Million Sanofi), which are roughly 10x its net worth. Funding uncertainty, especially a pending ₹1,000 Cr QIP, is a key concern.