ICRA’s promoter company Moody’s Corporation has secured a majority equity ownership stake in credit rating agency to over 50%.
Moody’s Singapore Pte along with Moody’s Investment Company India and Moody’s Corporation collectively increased their stake in the company to 50.06% after the successful conclusion of open offer for a majority stake in the company.
Moody’s had made an open offer to acquire 2.65 million shares or 28.51% stake in ICRA at Rs 2,400 per share. However, the promoter has successfully acquired 2.15 million shares or 21.55% stake in open offer.
As of March 31, 2014, Moody’s Investment Company India held 28.51% stake in the company.
