ICRA Limited has announced the opening of a special window for the transfer and dematerialisation of physical securities, in compliance with Securities and Exchange Board of India (SEBI) circular no. HO/38/13/11(2)2026-MIRSD-POD/3750/2026 dated January 30, 2026. The special window will remain open for one year from February 5, 2026 to February 4, 2027.

Key Features of the Special Window

The facility is designed to facilitate the transfer and dematerialisation of physical securities that were sold or purchased prior to April 1, 2019. Additionally, it covers transfer requests that were previously submitted but rejected, returned, or unattended due to incomplete documentation, process deficiencies, or other reasons.

Lock-in Restrictions

Within this special window period, any transferred securities must be credited to the transferee strictly in demat mode. These securities will be subject to a one-year lock-in from the date of registration of the transfer. During the lock-in period, the securities cannot be transferred, lien-marked, or pledged. All proper procedures will be followed for such transfer-cum-dematerialisation requests.

Submission Process

Investors interested in submitting a request or taking advantage of this provision should send the necessary documents to the Registrar and Transfer Agent of ICRA Limited, M/s MUFG Intime India Private Limited. The contact details are as follows:

The notice regarding this special window was published in Financial Express and Jansatta newspapers on April 17, 2026. The information is also available on the company's website at https://www.icra.in/ .

Pari Washington India Master Fund, Ltd. has filed a disclosure under SEBI regulations regarding the substantial reduction of its shareholding in icra Limited. The fund sold 145,400 shares through open market transactions, significantly reducing its stake in the credit rating agency.

Transaction Details

The share sale transaction presents the following key parameters:

Shareholding Changes

The transaction resulted in a notable change in Pari Washington's ownership structure in ICRA Limited:

Regulatory Compliance

The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing identifies two entities involved in the transaction:

• Pari Washington India Master Fund, Ltd. (PWIMF) - Primary Acquirer
• Pari Washington Investment Fund (PWIF) - Person Acting in Concert (PAC)

Both entities are confirmed as non-promoter entities in relation to ICRA Limited.

Company Information

ICRA Limited maintains its listing status on major Indian stock exchanges, with shares traded on both the Bombay Stock Exchange and National Stock Exchange. The company's total equity share capital remains stable at 9,651,231 shares before and after the transaction.

The disclosure was signed by Ms. Dilshaad Banu Mustapha Hammaad Rajabalee Ruhomally, serving as the Authorised Signatory for Pari Washington India Master Fund, Ltd., from Mauritius. The transaction represents a strategic portfolio adjustment by the Mauritius-based investment fund while maintaining a significant minority stake in the Indian credit rating company.