CRISIL Limited, a leading analytics company, has announced its intention to appoint Mr. Dinesh Khara, former Chairman of State Bank of India (SBI), as an Independent Director on its Board. The company has issued a postal ballot notice seeking shareholder approval for this significant appointment.

Appointment Details

The Board of Directors of CRISIL, based on the recommendations of the Nomination and Remuneration Committee, has appointed Mr. Khara as an Additional Director (Independent and Non-Executive) effective September 24, 2025. His proposed term as an Independent Director would run from September 24, 2025, to September 23, 2030, subject to shareholder approval.

About Dinesh Khara

Mr. Dinesh Khara brings a wealth of experience to CRISIL's Board:

• Served as Chairman of State Bank of India from October 2020 to August 2024
• Over 40 years of experience in the banking and financial services sector
• Previously held key positions at SBI, including Managing Director (Global Banking & Subsidiaries)
• Led the merger of five associate banks of SBI and Bhartiya Mahila Bank with SBI
• Former MD & CEO of SBI Funds Management Pvt Ltd

Mr. Khara holds an MBA from FMS New Delhi and is a Postgraduate in Commerce from Delhi School of Economics. He is also a Fellow member of the Indian Institute of Banking & Finance.

Voting Process

CRISIL has outlined the following voting process for shareholders:

Board's Recommendation

The Board of Directors considers Mr. Khara's appointment to be in the best interest of CRISIL, citing his complementary skills, ability to contribute to the company's growth, and his overall credentials. They have recommended his appointment to the shareholders.

CRISIL's Strategic Move

This appointment comes at a time when CRISIL is expanding its global presence. In a separate announcement on the same day, CRISIL revealed its plans to acquire McKinsey PriceMetrix Co., a leading provider of performance benchmarking and data-driven insights for the wealth management industry. This acquisition, valued at USD 38.00 million, is expected to strengthen CRISIL's position in the global benchmarking analytics market.

The addition of Mr. Khara to the Board, with his extensive experience in banking and financial services, aligns well with CRISIL's strategic growth initiatives in the financial sector.

Shareholders are encouraged to participate in the e-voting process to voice their decision on this significant appointment, which could shape CRISIL's future direction in the evolving financial analytics landscape.

CRISIL , a leading global analytics company, has announced a strategic move to strengthen its position in the wealth management analytics sector. The company's board has approved the acquisition of McKinsey PriceMetrix Co., a Canadian wealth management software provider, for USD 38 million (approximately INR 335 crore) through its subsidiary Crisil Canada Inc.

Acquisition Details

PriceMetrix, founded in 2000 and headquartered in Toronto, is a prominent software solution provider for wealth management firms and their financial advisors. The company maintains a proprietary database covering $8 trillion in assets under management and 30 million investment accounts, offering benchmarking, pricing intelligence, and practice management solutions to its clients in Canada and the United States.

Financial Performance

PriceMetrix reported the following financial results:

The company has shown consistent growth, with revenues of INR 81.50 crores in 2022 and INR 89.90 crores in 2023.

Strategic Alignment

The acquisition aligns with CRISIL's strategy to become a leading player in the global benchmarking analytics market. PriceMetrix will be integrated with Crisil Coalition Greenwich (CCG), enhancing CRISIL's offerings across the wealth management value chain.

Amish Mehta, Managing Director & CEO of CRISIL, stated, "With this acquisition, CRISIL strengthens its position as a leading provider of benchmarking and analytics across financial services. PriceMetrix's proven expertise in wealth management and its rich data assets perfectly complement our existing offerings."

Transaction Details

• The acquisition will be made through Crisil Canada Inc., a wholly-owned subsidiary of Crisil Irevna UK Limited.
• Crisil Irevna UK Limited will invest up to USD 38.5 million into Crisil Canada Inc. to facilitate the acquisition and cover related expenses.
• The deal is expected to be completed within 180 days, subject to customary closing conditions.

Post-Acquisition Plans

Following the acquisition:

• PriceMetrix employees will transition to CRISIL.
• McKinsey will continue to use PriceMetrix insights for its client engagements.
• The integration is expected to deliver enhanced insights and create significant value for clients globally.

Additional Board Appointment

In a separate announcement, CRISIL's Board of Directors has approved the appointment of Mr. Dinesh Khara as an Independent Director for a five-year term, effective September 24, 2025, subject to shareholder approval. Mr. Khara, a career banker with nearly 40 years of experience, previously served as the Chairman of State Bank of India from October 2020 to August 2024.

This strategic acquisition and board appointment demonstrate CRISIL's commitment to expanding its expertise and leadership in the financial services analytics sector, particularly in wealth management benchmarking and insights.