India Ratings & Research (Ind-Ra) has assigned Ricoh India proposed Rs 2 billion long-term non-convertible debenture (NCD) an 'A(exp)' rating. The agency has also assigned Ricoh India a long-term issuer rating of 'A' with stable outlook.

Ricoh India has an established brand name in the office equipment segment and a widespread distribution and service network. The company's established presence is supported by its operating linkages with its parent Ricoh, Japan.

Ricoh India operates as Ricoh Co's front-end in India, as it imports its majority of supplies in the office equipment business from the parent. This accounted for nearly 50% of Ricoh India’s FY14 (year end March) revenue. Parallely, Ricoh India has an IT services segment for which supplies can be procured from outside vendors.

Shares of the company gained Rs 3.45, or 1.28%, to trade at Rs 272. The total volume of shares traded was 93,054 at the BSE (12.19 p.m., Thursday).