ICRA assigns positive ratings to Nuvama Wealth subsidiaries

Nuvama Wealth Management Limited announced on September 24, 2025, that its material subsidiaries, Nuvama Wealth Finance Limited (NWFL) and Nuvama Wealth and Investment Limited (NWIL), have received favorable credit ratings from ICRA Limited. ICRA assigned an ‘[ICRA]AA- (Positive)' rating to the long-term Principal Protected Market Linked Debentures (PP-MLD) of both NWFL and NWIL.

Additionally, ICRA has assigned an ‘[ICRA]A1+' rating to the Commercial Papers – IPO Financing (CP-IPO) of NWFL. The credit rating agency also re-affirmed its ‘[ICRA]AA- (Positive)’ rating on the long-term instruments and ‘[ICRA]A1+’ rating on the short-term instruments for both NWFL and NWIL.

The complete rating rationale issued by ICRA is available on their website, with specific reports linked for Nuvama Wealth Finance (Id=137841) and Nuvama Wealth and Investment Limited (Id=137850). The announcement was signed by Sneha Patwardhan, company secretary and compliance officer for Nuvama Wealth Management Limited.