ICRA LIMITED : UPDATE ON ACQUISITION OF D2K TECHNOLOGIES INDIA PRIVATE LIMITED

• ICRA Analytics Limited, a subsidiary of ICRA, has approved the acquisition of the remaining 40% of equity share capital of D2K Technologies India Private Limited (D2K) for ₹32 crores. • Upon closing, ICRA Analytics will hold 100% of D2K's equity share capital on a fully diluted basis. • D2K is a related party, an indirect subsidiary of ICRA, engaged in providing banking and finance solutions and software services. • No governmental or regulatory approval is required for this acquisition. • The consideration will be paid in cash. • The acquisition is contingent upon successful execution of the transaction by the depositories. • D2K was incorporated in 2001 and is headquartered in Mumbai.

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