CARE Ratings Limited Receives SEBI Authorization to Launch PaRRVA Services from May 4, 2026

CARE Ratings Limited has received formal authorization from the Securities and Exchange Board of India (SEBI) to commence its Past Risk and Return Verification Agency (PaRRVA) services, marking a significant milestone in the company's service expansion. The authorization, effective from May 4, 2026, follows the successful completion of a pilot phase program.

SEBI Authorization Details

The company informed stock exchanges through a regulatory filing dated April 30, 2026, that SEBI has authorized the commencement of PaRRVA services through its circular dated April 29, 2026. This development builds upon the company's earlier achievement of receiving final recognition from SEBI to act as a Past Risk and Return Verification Agency.

Parameter:	Details
Service Launch Date:	May 4, 2026
SEBI Authorization Circular:	April 29, 2026
Initial Recognition Date:	December 5, 2025
Original SEBI Circular:	April 4, 2025

Regulatory Compliance and Timeline

CARE Ratings had initially received final recognition from SEBI under the circular dated April 4, 2025, which was communicated to exchanges on December 5, 2025. The company has now successfully completed the mandatory pilot phase, enabling SEBI to grant full authorization for commercial operations of PaRRVA services.

Corporate Communication

The notification was signed by Manoj Kumar CV, Company Secretary and Compliance Officer, and submitted to both BSE Limited and The National Stock Exchange of India Limited as part of the company's disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market Positioning

The authorization to provide PaRRVA services represents CARE Ratings' expansion into specialized verification services within the financial markets ecosystem. The Past Risk and Return Verification Agency services are part of SEBI's regulatory framework designed to enhance transparency and verification processes in the securities market.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.12%	+3.93%	+10.54%	+6.13%	+38.08%	+235.96%

CARE Ratings Limited has officially informed the stock exchanges that it does not qualify as a Large Corporate entity, thereby exempting it from specific regulatory disclosure requirements related to debt securities for the upcoming financial year.

Regulatory Compliance Status

In a formal communication dated April 8, 2026, CARE Ratings Limited notified both BSE Limited and the National Stock Exchange of India about its regulatory status under the Large Corporate framework. The company confirmed that as on March 31, 2026, it does not fall under the Large Corporate category as defined in chapter XII of the Operational Circular for issue and listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper.

Parameter:	Status
Large Corporate Category Status (March 31, 2026):	Not Applicable
Initial Disclosure Requirement (FY26-27):	Exempted
Annual Disclosure Requirement (FY25-26):	Exempted

Disclosure Requirements Exemption

The non-applicability of the Large Corporate category has significant implications for the company's regulatory obligations. Since CARE Ratings Limited does not meet the criteria for Large Corporate classification, it is exempt from filing the Initial Disclosure for financial year 2026-2027. This exemption relieves the company from certain mandatory disclosure requirements that would otherwise apply to larger entities in the debt securities market.

Historical Compliance Status

The company also clarified its status for the previous financial year, confirming that it was not categorized as a Large Corporate for financial year 2025-2026. Consequently, CARE Ratings Limited is also exempt from filing the Annual Disclosure for FY25-26, maintaining consistency in its regulatory compliance status across consecutive financial years.

Official Communication Details

The notification was formally addressed to both BSE Limited and National Stock Exchange of India, bearing reference number SE/2026-27/5. The communication was signed by Manoj Kumar CV, Company Secretary & Compliance Officer of CARE Ratings Limited, and digitally authenticated on April 8, 2026. The formal letter specifically referenced chapter XII of the operational circular governing fund raising by issuance of debt securities by large corporates.

Communication Details:	Information
Reference Number:	SE/2026-27/5
Signatory:	Manoj Kumar CV
Designation:	Company Secretary & Compliance Officer
Authentication:	Digital Signature (April 8, 2026)
BSE Scrip Code:	534804
NSE Scrip Code:	CARERATING