ICRA Limited, a leading provider of credit ratings, research, and risk analytics, today announced the successful closure of its acquisition of a majority stake in Fintellix India Private Limited (“Fintellix”).
This major secondary purchase, first approved by ICRA’s Board of Directors on June 12, 2025, solidifies ICRA’s expansion into the high-growth risk technology sector.
ICRA acquired 98.75% shareholding in Fintellix for a total cash consideration of INR 245.63 crores (approximately US$ ~27.9 million).
Fintellix, a Bengaluru-based RegTech and risk solutions company, has officially become a subsidiary of ICRA, effective today, October 17, 2025.
The remaining 1.25% shareholding, which forms part of the overall acquisition plan, is expected to be acquired in due course, subject to the receipt of requisite regulatory approval.
The acquisition is described as a significant milestone in ICRA’s broader strategy to expand its risk technology portfolio and strengthen its position as a preferred partner for risk and investment analytics.
Fintellix, a product-led company specializing in software products and services, brings deep expertise in regulatory reporting, supervisory platforms, credit risk, and data analytics, delivered via its proprietary technology platform.
By combining ICRA’s established domain leadership in credit risk with Fintellix’s advanced product suite, the combined Group is positioned to offer integrated solutions.
These solutions are designed to help banks, Non-Banking Financial Companies (NBFCs), and regulators effectively navigate complex regulatory environments, manage risk, and leverage data-driven insights for strategic decision-making.
Fintellix’s platform is currently trusted by over 30 institutions across India, the UK, US, and other key markets.
Ramnath Krishnan, MD & Group CEO, ICRA Ltd, welcomed the acquisition, calling it a “pivotal step in our ambition to lead in risk analytics”.
He emphasized that the collaboration is uniquely positioned to help clients navigate the fast-evolving regulatory landscape.
Shailendra Mruthyunjayappa, CEO, Fintellix, commented that joining ICRA, with its broader capabilities and global reach, will “accelerate our mission to deliver impactful solutions to manage risk, compliance and strategic priorities with confidence”.
For context, Fintellix was incorporated on March 17, 2006, and reported a turnover of INR 81.5 crore for FY 25. The acquisition does not fall within the ambit of related party transactions.
S. Shakeb Rahman, Company Secretary & Compliance Officer of ICRA Limited, signed the disclosure. The filing was submitted pursuant to Regulation 30 of the SEBI Listing Regulations.
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