Latest news with #RamnathKrishnan
News18
31-07-2025
- Business
- News18
ICRA Q1 profit rises 19 pc to Rs 43 cr
Agency: PTI Last Updated: New Delhi, Jul 31 (PTI) Domestic rating agency ICRA on Thursday reported a 19.2 per cent growth in profit at Rs 42.8 crore its June quarter. The firm posted a profit after tax (PAT) of Rs 35.9 crore in the year-ago period. Consolidated revenue from operations increased 8.4 per cent to Rs 124.5 crore for the June quarter compared to Rs 114.8 crore a year earlier. In the current quarter, ICRA has entered into a definitive agreement to acquire 100 per cent shareholding in Fintellix India Pvt Ltd for USD 26 million (Rs 225 crore). The acquisition is subject to the completion of mutually agreed conditions as per the share purchase agreement (SPA). ICRA MD and Group CEO Ramnath Krishnan said, 'Our ratings business continued to benefit from a supportive credit environment, marked by strong bond issuances and securitisation activity. 'The research & analytics segment remained stable, with growth in risk management and market data offset by the residual impact of ESG project discontinuation in the previous year." Given the adverse impact of the escalation in geopolitical conflicts, heightened uncertainty around tariffs, and excess rainfall in May and the second half of June on demand and economic activity, ICRA anticipates India's gross domestic product growth to decelerate to 6.1-6.5 per cent in Q1, FY26 from the high 7.4 per cent in Q4, FY25. We have maintained our GDP growth projection for FY26 at 6.2 per cent, amid expectations of an upbeat outlook for domestic consumption and government capex, even as we remain circumspect around the outcomes for exports and private capex, ICRA said in a statement. PTI JD TRB (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 31, 2025, 18:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
New Indian Express
13-06-2025
- Business
- New Indian Express
Icra buys Bengaluru-based Fintellix India for Rs 224 crore
Credit rating agency Icra will acquire Bengaluru-based risk and data analytics solutions company Fintellix India Private Limited for $26 million (about Rs 224 crore). Fintellix enables global financial sector entities to meet regulatory requirements while managing data and providing superior analytics. Ramnath Krishnan, MD & Group CEO of Icra said, "With this acquisition, we reiterate our commitment to being a leading risk technology player. This space is fast evolving with increasing regulatory scrutiny in financial markets, and we believe Fintellix and Icra together will better address the emerging market needs.' Shailendra M, CEO of Fintellix, said, 'This marks a new chapter for Fintellix - one where our product innovation and global experience will be amplified by Icra's scale, credibility, and deep understanding of financial risk.' The acquisition will additionally strengthen Icra Group's portfolio of credit risk assessment and monitoring tools by adding risk reporting capabilities to its existing solutions. Icra's portfolio includes credit risk software solutions, Early Warning Systems (EWS) and asset classification tools. According to the company's filings, Fintellix India Private Limited's turnover for FY 24 stood at Rs 76.1 crore. It was Rs 87.7 crore in FY23 and Rs 90.6 crore in FY22. The acquisition is expected to be completed in less than three months, and the consideration will be paid in cash.
Entrepreneur
13-06-2025
- Business
- Entrepreneur
ICRA to Acquire Fintellix, Expanding Footprint in Risk and Regulatory Tech
While the financial terms of the deal have not been disclosed, the strategic intent is clear: to offer integrated, data-driven risk solutions under one roof. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. ICRA has announced the signing of a definitive agreement to acquire Fintellix, a Bengaluru-based company known for its regulatory and risk analytics solutions for global financial institutions. The acquisition, detailed in a press release from ICRA, marks a significant move by the credit rating agency to deepen its technological offerings amid tightening regulatory oversight in the financial sector. Fintellix specializes in supervisory, risk, and data analytics tools, operating on a proprietary data platform. Its solutions are widely used by banks and financial entities to manage compliance and regulatory requirements while streamlining data management and analytics. With this acquisition, ICRA aims to expand its footprint in the risk technology space, bolstering its portfolio with advanced reporting capabilities. "This space is fast evolving with increasing regulatory scrutiny in financial markets, and we believe Fintellix and ICRA together will better address the emerging market needs," said Ramnath Krishnan, managing director and Group CEO of ICRA. "With this acquisition, we reiterate our commitment to being a leading risk technology player." The deal also strengthens ICRA Group's suite of credit risk and monitoring solutions, which currently includes early warning systems, asset classification tools, and credit risk assessment software. The integration of Fintellix's reporting capabilities is expected to enhance ICRA's ability to offer comprehensive tools that address the full spectrum of risk and regulatory compliance needs. For Fintellix, the acquisition signals a shift into a new phase of growth. "This marks a new chapter for Fintellix—one where our product innovation and global experience will be amplified by ICRA's scale, credibility, and deep understanding of financial risk," said Shailendra M, CEO of Fintellix. The acquisition reflects a broader trend in the financial services industry, where traditional analytics and credit rating firms are increasingly investing in tech-led platforms to meet evolving compliance challenges and expectations from regulators. While the financial terms of the deal have not been disclosed, the strategic intent is clear: to offer integrated, data-driven risk solutions under one roof.
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Business Standard
13-06-2025
- Business
- Business Standard
ICRA to acquire risk solution firm Fintellix India for $26 million
ICRA has entered into a definitive agreement to acquire Fintellix India, a provider of risk and reporting solutions to global financial institutions, for USD 26 million. In a stock exchange filing, ICRA said its board has granted approval for the acquisition of 100 per cent shareholding in Fintellix India Pvt Ltd for a consideration of INR equivalent to USD 26 million by way of a secondary purchase, pursuant to execution of a share purchase agreement and other transaction documents. Commenting on the development, Ramnath Krishnan, MD & Group CEO of ICRA, said, "With this acquisition, we reiterate our commitment to being a leading risk technology player. This space is fast evolving with increasing regulatory scrutiny in financial markets, and we believe Fintellix and ICRA together will better address the emerging market needs." The rating agency said the acquisition will additionally strengthen ICRA Group's portfolio of credit risk assessment and monitoring tools by adding risk reporting capabilities to its existing solutions. ICRA's portfolio includes credit risk software solutions, early warning systems (EWS) and asset classification tools. Fintellix, a Bengaluru-based product-led company, specialises in risk, supervisory, and data analytics solutions on its proprietary data platform. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
