ICRA Limited explained

ICRA Limited
Type:Public
Traded As:
Location City:Gurgaon
Location Country:India
Key People:Ramnath Krishnan, Managing Director & Group CEO

Arun Duggal, Non-Executive chairman and independent director.

Industry:Financial services
Services:Credit ratings
Financial consulting
Revenue:[1]
Owner:Moody'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

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]

Notes and References

  1. Web site: Annual Report 2010-11. ICRA Limited. 2011-08-26.
  2. Web site: Profile. ICRA Limited. 2011-08-26.
  3. Web site: Frequently Asked Questions. ICRA Limited. 2011-08-26.
  4. News: 2024-12-31. Shareholding Pattern under Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ICRA Limited – Shareholding Pattern. 2025-03-24.
  5. Web site: ICRA – ICRA Lanka. 2020-08-18. icra.in.
  6. Web site: ICRA – ICRA Nepal. 2020-08-18. icra.in.
  7. Web site: ICRA – ICRA Analytics Ltd. 2020-08-18. icra.in.
  8. Web site: ICRA announces merger of ICRA Online & ICRA Management Consulting Services. 2020-08-18. indiainfoline.com. en.
  9. News: Rating agency ICRA Ltd pulls out services from Indonesia. The Economic Times. 2020-08-18.
  10. Web site: Nihilent Acquires ICRA Controlled Leading IT and Analytics Services Provider. 2020-08-18. Nihilent. en.
  11. News: Nihilent acquires ICRA controlled leading IT and Analytics services provider. The Economic Times. 2020-08-18.
  12. Web site: 2016-10-25. ICTEAS now renamed Nihilent Analytics Limited. 2020-08-18. thehansindia.com. en.

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