ICRA Analytics Acquires Remaining Stake in D2K Technologies for INR 32 Crores
ICRA Analytics, a material subsidiary of ICRA Ltd, has approved the acquisition of the remaining equity shares of D2K Technologies India Private Limited. The transaction involves the purchase of 40% of D2K’s equity share capital by ICRA Analytics from existing shareholders for a consideration of INR 32 crores.Upon the completion of this proposed acquisition, ICRA Analytics will hold 100% of the equity share capital of D2K on a fully diluted basis. The move transforms D2K into a wholly owned step down subsidiary of ICRA Ltd.
D2K Technologies India Private Limited (D2K) is an entity providing banking and finance solutions, software services to financial institutions and corporates. The acquisition represents the completion of the strategic process initiated by ICRA Analytics.
The transaction details and background concerning D2K are summarized below:
| Detail | Description |
|---|---|
| Target Entity | D2K Technologies India Private Limited (incorporated under Companies Act, 1956) |
| Industry | Information and communication |
| Acquisition Cost | INR 32 crores for the acquisition of the remaining 40% shareholding |
| Strategic Impact | Post-acquisition, ICRA Analytics will hold 100% of D2K’s equity capital. |
| Relationship Status | D2K is a related party, as ICRA holds 60% of its shares through ICRA Analytics Limited. |
D2K Technologies was incorporated on May 4, 2001, and operates out of Mumbai, Maharashtra, India. The company has focused on providing banking and finance solutions and software services to financial institutions and corporates.
The operational history and turnover of D2K over the last three years are as follows:
| Financial Year | Turnover (INR) |
|---|---|
| FY 24 | 18.58 crores |
| FY 25 | 25.05 crores |
| FY 26 | 23.76 crores |
The acquisition is contingent upon successful execution of the transaction by the depositories and the consideration will be paid in cash.
ICRA Stock Price Movement
Shares of ICRA Limited are slipping as of 12:49 PM, shedding 1.41% in live trading to currently trade at ₹5270.50. The equity has seen a traded volume of 4,493 shares as the market continues its sessions.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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