ICRA acquires Fintellix

ICRA has entered into a definitive agreement to acquire Fintellix, a leading provider of risk and reporting solutions to global financial institutions.

Fintellix, a Bengaluru based product-led company, specialising in risk, supervisory, and data analytics solutions on its proprietary data platform. Fintellix enables global financial sector entities to meet regulatory requirements while efficiently managing data and providing superior analytics.

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."

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.

Shares of ICRA Limited was last trading in BSE at Rs. 6658.15 as compared to the previous close of Rs. 6643.45. The total number of shares traded during the day was 95550 in over 208 trades.

The stock hit an intraday high of Rs. 6805.00 and intraday low of 6643.00. The net turnover during the day was Rs. 637339791.00.

Source : Equity Bulls

Keywords

ICRA INE725G01011 Acquisition Fintellix