Created by Shivam
Last edited October 12, 2025


Template:Infobox company ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency.[1] The company was established in 1991, and was originally named Investment Information and Credit Rating Agency of India Limited (IICRA India).

It was a joint-venture between Moody's and various Indian commercial banks and financial services companies. The company changed its name to ICRA Limited, and went public on 13 April 2007, with a listing on the Bombay Stock Exchange and the National Stock Exchange.[2] As of end December 2024, Moody's Corporation owns a 51.86% majority stake.[3]

Group Companies

As of August 2020, ICRA Ltd. operates the following subsidiaries:

  1. ICRA Lanka Limited (ICRA Lanka) – credit rating agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC) incorporated in December 2010 and was granted license by the SEC in May 2011.[4]
  2. ICRA Nepal Limited (ICRA Nepal) – first Credit Rating Agency in Nepal incorporated on 11 November 2011 and granted licence by the Securities Board of Nepal (SEBON) on 3 October 2012.[5]
  3. ICRA Analytics Limited – analytics and digital platforms for risk management, market data, consulting and knowledge services.[6] ICRA Analytics was formed from the merger of ICRA Online Limited (ICRON) and ICRA Management Consulting Services Limited (IMaCS) in October 2019.[7]

The following business formerly were part of the ICRA Group of Companies:

  1. PT ICRA Indonesia (ICRAIndo) – ICRA pulled out of the Indonesia market in June 2015.[8]
  2. ICRA Techno Analytics Limited (ICTEAS) – ICTEAS was acquired by Pune-based global consulting and IT services solutions integrations company Nihilent Technologies in August 2016 for INR 687.5 million (US$10 million)[9][10] and renamed Nihilent Analytics.[11]

References

  1. Profile. ICRA Limited.
  2. Frequently Asked Questions. ICRA Limited.
  3. Shareholding Pattern under Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ICRA Limited – Shareholding Pattern(2024-12-31). Retrieved 2025-03-24.
  4. ICRA – ICRA Lanka. icra.in. Retrieved 2020-08-18.
  5. ICRA – ICRA Nepal. icra.in. Retrieved 2020-08-18.
  6. ICRA – ICRA Analytics Ltd. icra.in. Retrieved 2020-08-18.
  7. ICRA announces merger of ICRA Online & ICRA Management Consulting Services. indiainfoline.com. Retrieved 2020-08-18.
  8. Rating agency ICRA Ltd pulls out services from Indonesia. The Economic Times. Retrieved 2020-08-18.
  9. Nihilent Acquires ICRA Controlled Leading IT and Analytics Services Provider. Nihilent. Retrieved 2020-08-18.
  10. Nihilent acquires ICRA controlled leading IT and Analytics services provider. The Economic Times. Retrieved 2020-08-18.
  11. ICTEAS now renamed Nihilent Analytics Limited. thehansindia.com(2016-10-25). Retrieved 2020-08-18.

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