ICRA Limited has received formal disclosure from Nippon India Mutual Fund regarding substantial share acquisition under SEBI Takeover Regulations, as communicated to stock exchanges on April 9, 2026.

Strategic Acquisition by Nippon India Mutual Fund

Nippon India Mutual Fund, operating through Nippon Life India Trustee Limited, has substantially increased its stake in ICRA Limited through systematic open market purchases conducted between July 8, 2025, and April 7, 2026. The acquisition represents a strategic investment move by the institutional investor.

The mutual fund does not belong to the promoter or promoter group category and acquired shares entirely through equity shares carrying voting rights, with no involvement of warrants, convertible securities, or encumbered shares.

Regulatory Compliance and Disclosure

The acquisition was disclosed in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The formal disclosure was submitted to both the National Stock Exchange of India Limited and BSE Limited through proper regulatory channels.

Company Share Capital Structure

ICRA Limited's equity share capital structure remained unchanged throughout the acquisition period, maintaining stability in the overall shareholding framework.

Market Impact and Institutional Interest

The acquisition demonstrates continued institutional confidence in ICRA Limited's business prospects. Nippon India Mutual Fund's decision to increase its exposure through systematic market purchases over an extended period indicates a strategic long-term investment approach. The fund house completed the acquisition through open market transactions, ensuring price discovery through regular market mechanisms.

The disclosure was communicated by ICRA's Company Secretary and Compliance Officer, maintaining transparency with stakeholders and regulatory authorities. This shareholding change reflects active portfolio management by institutional investors in the credit rating agency sector.

ICRA Limited has completed its quarterly regulatory filing by submitting a compliance certificate to the stock exchanges for the quarter ended March 31, 2026. The certificate was filed under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Regulatory Filing Details

The compliance certificate was submitted on April 6, 2026, to both major Indian stock exchanges where ICRA shares are listed. Company Secretary and Compliance Officer S. Shakeb Rahman signed and filed the documentation on behalf of the company.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as ICRA's registrar and transfer agent. The registrar provided a confirmation certificate stating that no demat requests were received for processing during the quarter ended March 31, 2026.

Swapan Kumar Naskar, Associate Vice-President and Head (North India) at MUFG Intime India Private Limited, signed the confirmation certificate. The registrar's confirmation is a standard part of the quarterly compliance process under SEBI regulations.

Compliance Framework

This filing represents adherence to SEBI's regulatory framework governing depositories and participants. The regulation requires listed companies to submit quarterly certificates confirming compliance with depository-related requirements. The certificate was also copied to both National Securities Depository Limited and Central Depository Services (India) Limited, the two main depositories in India.

Company Information

ICRA Limited operates from its corporate office in Gurugram, with its registered office located in New Delhi. The company maintains its commitment to regulatory compliance through systematic quarterly filings and coordination with its registrar and transfer agent for depository-related matters.