NetZero Finance Secures CARE BBB Stable and A3 Ratings for INR 250 Cr Bank Facilities
NetZero Finance, the financing arm of Aerem Solutions, has received a long-term CARE BBB Stable and short-term CARE A3 rating for its INR 250 crore bank facilities, reinforcing its role in scaling rooftop solar financing across India.
March 06, 2026. By Mrinmoy Dey
The ratings reflect NFPL's strong backing from Aerem Group's diversified investor base, including Blume Ventures, Avaana Sustainability Fund, British International Investment, SMBC Asia Rising Fund, and UTEC LLP, with a tangible net worth of INR 100 crore for NFPL and INR 220 crore consolidated as of December 31, 2025.
Key strengths include technology-enabled underwriting via AeROC remote monitoring, healthy asset quality, and a capital adequacy ratio of 42.23 percent. The stable outlook signals expectations of consistent growth while maintaining asset quality in the distributed solar ecosystem, the company stated.
Anand Jain, Founder and CEO of Aerem Solutions, said, “This CARE BBB Stable rating is a testament to our integrated model's strength in scaling rooftop solar financing responsibly. Backed by our comprehensive use of technology platform, we are well-positioned to fuel India's clean energy transition for MSMEs and households nationwide.”
Vikesh Agrawal, Co-Founder and COO of NetZero Finance, added, “This rating validates our disciplined underwriting and risk management approach. It strengthens our capacity to finance rooftop solar adoption across commercial, industrial, and residential segments, driving sustainable growth.”
This credit rating enhances NFPL's ability to scale its INR 270 crore assets under management (AUM), focused on commercial and industrial, supply chain, and residential solar financing, the company stated.
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