Crisil Ltd has approved the amalgamation of its wholly owned step-down subsidiaries, Crisil Canada Inc and Crisil PriceMetrix Inc. The board of directors approved the merger at a meeting held on July 21, 2026. The transaction aims to consolidate CRISIL's global entity structure, resulting in the formation of a single entity under the name Crisil PriceMetrix Inc. Both existing entities will cease to exist as separate entities upon completion of the amalgamation.

The amalgamation is subject to necessary statutory and regulatory approvals under the applicable laws of the Ontario Business Corporation Act (OBCA). The transaction involves two wholly owned step-down subsidiaries and does not fall within the purview of related party transactions under the Companies Act, 2013 and SEBI Listing Regulations. Consequently, there will be no impact on the shareholding pattern of CRISIL.

Crisil PriceMetrix Inc is a Toronto-based software-as-a-service (SaaS) and data analytics provider specializing in wealth management, benchmarking, and pricing intelligence. Its total income for the period from November 7, 2025, to December 31, 2025, was USD 1,431,352. Crisil Canada Inc provides offerings in the research and benchmarking business segment, recording a total income of USD 51,215 for the year ended December 31, 2025.

Financial Details of Subsidiaries

The share capital of Crisil Canada Inc amounting to $ 38 million will be retained as the capital of the amalgamated entity and issued to the parent company. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Crisil Limited’s Board of Directors approved the amended Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) on July 21, 2026. The updated code, effective immediately, ensures compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The policy mandates the prompt public disclosure of information that could impact price discovery to ensure uniformity and prevent selective dissemination.

The amended code designates Crisil’s Chief Financial Officer as the Chief Investor Relations Officer, responsible for disseminating information and handling UPSI disclosures. The Board has mandated the maintenance of a structured digital database containing the nature of UPSI and the names of individuals or entities sharing or receiving such information. This database will be updated regularly by insiders or teams responsible for sharing UPSI for legitimate purposes.

The policy outlines specific principles for fair disclosure, including the avoidance of selective disclosure except for legitimate purposes as defined in Annexure A. It requires that information shared with analysts and research personnel must not be UPSI. Furthermore, Crisil will publish proceedings of meetings with analysts and investor relations conferences on its official website to ensure official documentation of disclosures.

The code defines UPSI to include financial results, dividends, changes in capital structure, mergers, acquisitions, and changes in key managerial personnel. It also covers events such as fraud, defaults, forensic audits, regulatory actions, and material litigation. The policy requires that any changes or modifications to the code receive Board approval and be promptly intimated to stock exchanges.

The policy will be reviewed at least once every three years. The previous version of the code was approved on November 10, 2021. The latest amendment was approved by the Board of Directors on July 21, 2026, and has been hosted on the company’s website.