CRISIL's Associate Company Status Changes for ERPA Due to Voting Rights Shift
CRISIL Limited announced that ESG Rating Providers Association (ERPA) is no longer an associate company. This is due to Crisil ESG Ratings and Analytics Limited's voting rights in ERPA decreasing from 50% to 11.11% after new members joined.
The change in associate company status of ERPA does not involve any financial transaction or impact CRISIL's core business operations or financial performance. It is a regulatory compliance disclosure.
The announcement is a routine disclosure regarding a change in the classification of an associate company due to a shift in voting rights. It does not have a direct positive or negative financial implication for CRISIL.
CRISIL Limited has announced a change in the associate company status of ESG Rating Providers Association (ERPA). This follows a decrease in the voting rights of Crisil ESG Ratings and Analytics Limited, a wholly owned step-down subsidiary of CRISIL, from 50% to 11.11% due to the admission of new members into ERPA.
ERPA, a Section 8 Company limited by guarantee, serves as an industry association for SEBI-registered ESG Ratings Providers. Previously, it was considered an associate company of CRISIL, as disclosed on August 12, 2024, and April 3, 2025. The decrease in voting rights means ERPA is no longer classified as an associate company.
The announcement clarifies that ERPA is a company without share capital, and thus, traditional metrics like turnover, revenue, income, and net worth contributions are not applicable. No sale or disposal agreement was entered into, and no consideration was received. The new members admitted to ERPA are SEBI-registered ESG Rating providers. The transaction does not fall under related party transactions.
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CRISIL Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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