ICRA Limited Reports Substantial Shareholding Changes by Nippon India Mutual Fund and Pari Washington Funds

ICRA Limited has reported significant changes in its shareholding pattern following substantial acquisitions and disposals by institutional investors, as disclosed under SEBI regulations on April 9, 2026.

Nippon India Mutual Fund Increases Stake

Nippon India Mutual Fund has substantially increased its holding in ICRA Limited through open market transactions conducted between July 8, 2025, and April 7, 2026. The fund's acquisition details are presented below:

Parameter Before Acquisition Acquisition After Acquisition Shares Held 6,64,324 1,44,959 8,09,283 Shareholding % 6.88% 1.50% 8.39% Voting Rights % 6.88% 1.50% 8.39%

The mutual fund, operating through Nippon Life India Trustee Limited, does not belong to the promoter or promoter group category. The acquisition was made entirely through equity shares carrying voting rights, with no involvement of warrants, convertible securities, or encumbered shares.

Pari Washington Funds Reduce Holdings

In contrast to Nippon India's acquisition, Pari Washington India Master Fund Ltd. and Pari Washington Investment Fund have reduced their combined stake in ICRA Limited. The disposal was executed on April 7, 2026, through open market sales:

Parameter Before Disposal Shares Sold After Disposal Total Shares 4,68,620 (1,45,400) 3,23,220 Combined Holding % 4.86% (1.51%) 3.35% Voting Rights % 4.86% (1.51%) 3.35%

Pari Washington India Master Fund Ltd. acted as the primary acquirer, while Pari Washington Investment Fund was identified as a Person Acting in Concert (PAC). Neither entity belongs to the promoter group.

Company Share Capital Structure

ICRA Limited's equity share capital structure remained unchanged throughout these transactions:

Component Details Total Equity Capital Rs. 9,65,12,310 Number of Shares 96,51,231 Face Value per Share Rs. 10.00 Diluted Share Capital Rs. 9,65,12,310

The company's shares are listed on both the National Stock Exchange of India Limited (Symbol: ICRA) and BSE Limited (Scrip Code: 532835).

Regulatory Compliance

Both transactions were disclosed in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosures were filed by the respective fund houses and communicated to the stock exchanges through ICRA's Company Secretary and Compliance Officer, S. Shakeb Rahman.

These shareholding changes reflect active portfolio management by institutional investors, with Nippon India Mutual Fund increasing its exposure while Pari Washington funds opted to reduce their position in the credit rating agency.

ICRA Limited has completed its quarterly regulatory filing by submitting a compliance certificate to the stock exchanges for the quarter ended March 31, 2026. The certificate was filed under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Regulatory Filing Details

The compliance certificate was submitted on April 6, 2026, to both major Indian stock exchanges where ICRA shares are listed. Company Secretary and Compliance Officer S. Shakeb Rahman signed and filed the documentation on behalf of the company.

Exchange Details: Information BSE Scrip Code: 532835 NSE Symbol: ICRA Filing Date: April 6, 2026 Quarter Covered: March 31, 2026

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as ICRA's registrar and transfer agent. The registrar provided a confirmation certificate stating that no demat requests were received for processing during the quarter ended March 31, 2026.

Swapan Kumar Naskar, Associate Vice-President and Head (North India) at MUFG Intime India Private Limited, signed the confirmation certificate. The registrar's confirmation is a standard part of the quarterly compliance process under SEBI regulations.

Compliance Framework

This filing represents adherence to SEBI's regulatory framework governing depositories and participants. The regulation requires listed companies to submit quarterly certificates confirming compliance with depository-related requirements. The certificate was also copied to both National Securities Depository Limited and Central Depository Services (India) Limited, the two main depositories in India.

Company Information

ICRA Limited operates from its corporate office in Gurugram, with its registered office located in New Delhi. The company maintains its commitment to regulatory compliance through systematic quarterly filings and coordination with its registrar and transfer agent for depository-related matters.

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