ICRA Limited

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ICRA Limited
Company typePublic
BSE: 532835
NSE: ICRA
IndustryFinancial services
Founded1991 (1991)
Headquarters
Gurgaon
,
India
Key people
Ramnath Krishnan, Managing Director & Group CEO
Arun Duggal, Non-Executive chairman and independent director.
ServicesCredit ratings
Financial consulting
Revenue₹2.28 billion (US$27 million)[1]
OwnerMoody's Corporation

ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency.[2] The company was established in 1991, and was originally named Investment Information and Credit Rating Agency of India Limited (IICRA India).

It was a joint-venture between Moody's and various Indian commercial banks and financial services companies. The company changed its name to ICRA Limited, and went public on 13 April 2007, with a listing on the Bombay Stock Exchange and the National Stock Exchange.[3] As of end December 2024, Moody's Corporation owns a 51.86% majority stake.[4]

Group Companies

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As of August 2020, ICRA Ltd. operates the following subsidiaries:

  1. ICRA Lanka Limited (ICRA Lanka) – credit rating agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC) incorporated in December 2010 and was granted license by the SEC in May 2011.[5]
  2. ICRA Nepal Limited (ICRA Nepal) – first Credit Rating Agency in Nepal incorporated on 11 November 2011 and granted licence by the Securities Board of Nepal (SEBON) on 3 October 2012.[6]
  3. ICRA Analytics Limited – analytics and digital platforms for risk management, market data, consulting and knowledge services.[7] ICRA Analytics was formed from the merger of ICRA Online Limited (ICRON) and ICRA Management Consulting Services Limited (IMaCS) in October 2019.[8]

The following business formerly were part of the ICRA Group of Companies:

  1. PT ICRA Indonesia (ICRAIndo) – ICRA pulled out of the Indonesia market in June 2015.[9]
  2. ICRA Techno Analytics Limited (ICTEAS) – ICTEAS was acquired by Pune-based global consulting and IT services solutions integrations company Nihilent Technologies in August 2016 for INR 687.5 million (US$10 million)[10][11] and renamed Nihilent Analytics.[12]

References

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  1. ^ "Annual Report 2010-11" (PDF). ICRA Limited. Retrieved 26 August 2011.
  2. ^ "Profile". ICRA Limited. Retrieved 26 August 2011.
  3. ^ "Frequently Asked Questions" (PDF). ICRA Limited. Retrieved 26 August 2011.
  4. ^ "Shareholding Pattern under Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015". ICRA Limited – Shareholding Pattern. 31 December 2024. Retrieved 24 March 2025.
  5. ^ "ICRA – ICRA Lanka". icra.in. Retrieved 18 August 2020.
  6. ^ "ICRA – ICRA Nepal". icra.in. Retrieved 18 August 2020.
  7. ^ "ICRA – ICRA Analytics Ltd". icra.in. Retrieved 18 August 2020.
  8. ^ "ICRA announces merger of ICRA Online & ICRA Management Consulting Services". indiainfoline.com. Retrieved 18 August 2020.
  9. ^ "Rating agency ICRA Ltd pulls out services from Indonesia". The Economic Times. Retrieved 18 August 2020.
  10. ^ "Nihilent Acquires ICRA Controlled Leading IT and Analytics Services Provider". Nihilent. Retrieved 18 August 2020.
  11. ^ "Nihilent acquires ICRA controlled leading IT and Analytics services provider". The Economic Times. Retrieved 18 August 2020.
  12. ^ "ICTEAS now renamed Nihilent Analytics Limited". thehansindia.com. 25 October 2016. Retrieved 18 August 2020.