Icra to acquire remaining 40 pc stake in D2K Tech for Rs 32 cr

New Delhi, Jun 29 (PTI) Rating agency Icra on Monday said it will acquire the remaining 40 per cent stake in D2K Technologies for Rs 32 crore.

Pursuant to this, Icra Analytics will hold 100 per cent of the equity share capital of D2K Technologies on a fully diluted basis, Icra said in a regulatory filing.

Icra Analytics is a wholly-owned subsidiary of Icra Ltd and provides services, solutions, analytics and digital platforms for risk management, mutual funds, fixed income, and knowledge services.

Currently, Icra Analytics holds 60 per cent stake in the company, which is engaged in the business of providing banking and software services to banks, other financial institutions, and corporates, among others.

Upon completion of the proposed acquisition,

D2K Technologies will become a wholly-owned step-down subsidiary of Icra, it said.

The acquisition is contingent upon the successful execution of the transaction by the depositories, it added. PTI DP DP BAL BAL