Latest news with #RamnathKrishnan
New Indian Express
a day ago
- 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
a day ago
- 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
a day ago
- 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.)
