ICRA Analytics to Acquire Remaining 40% of D2K Tech for ₹32 Crore
ICRA Analytics will acquire the remaining 40% of D2K Technologies for ₹32 crore. This acquisition will make D2K a wholly owned subsidiary of ICRA. D2K's FY26 turnover was ₹23.76 crore.
The acquisition amount of ₹32 crore is material for a subsidiary, and gaining full ownership of D2K could lead to significant operational and strategic benefits, impacting the overall business of ICRA.
The acquisition of the remaining stake in D2K Technologies and making it a wholly owned subsidiary is a positive step for ICRA, indicating consolidation and potential for increased control and synergy.
ICRA Limited announced that its material subsidiary, ICRA Analytics Limited, has approved entering into a Share Purchase Agreement (SPA) and amendments to an Investment Agreement to acquire the remaining 40% equity share capital of D2K Technologies India Private Limited ("D2K").
This acquisition, for a consideration of ₹32 crore, will result in ICRA Analytics holding 100% of D2K on a fully diluted basis. D2K is a related party, with ICRA Analytics currently holding 60% of its shareholding. The transaction does not require any governmental or regulatory approvals and is contingent upon the successful execution of transaction documents by the depositories.
D2K Technologies India Private Limited, incorporated on May 4, 2001, is engaged in providing banking and finance solutions and software services to financial institutions and corporates. Its turnover for FY26 was ₹23.76 crore, for FY25 was ₹25.05 crore, and for FY24 was ₹18.58 crore. Upon completion, D2K will become a wholly owned step-down subsidiary of ICRA Limited.
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ICRA Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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