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Indian Commercial Vehicle Industry: Near-Term Demand Subdued But Focus On Infrastructure And Scrappage Program To Support Sales In Fy 2018        Indian Power Sector: Progress On Debt Refinancing Under Uday Leading To Improved Liquidity Profile Of The Discoms; However Slow Progress Observed In Filing Of Tariff Petitions For Fy2018 By Discoms        Indian Sugar Sector: Healthy Prices Augur Well For Profitability Of Sugar Mills; However, Western And Southern Mills Affected By Slide In Cane Crushing Volumes        Economic growth to show mild recovery in FY2018; broad-based revival in private investment cycle not imminent        Indian Basmati Rice Industry: Performance Of Basmati Industry In Fy2017 Encouraging As Higher Paddy Prices Spell Growth In Realisations In Fy2018; Resumption Of Imports By Iran Will Be A Cause For Cheer        Indian Sugar Sector: Monthly Updates        Indian Mining And Construction Equipment Industry: Monthly Updates        Indian Auto Component Industry: Commodity Price Pressure To Weigh On Profitability Of Auto Ancillaries During Q4fy2017: Monthly Update        Indian Ports Sector: March 2017: Traction in Inland Waterway projects will open up several business opportunities for the port sector players; Iron ore and POL support overall volumes as coal volume growth continues to plummet        Indian Commercial Vehicle Industry: Subdued Optimism Among Fleet Operators Dampen Bs Iv Related Pre-Buying       
 
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Economic growth to show mild recovery in FY2018; broad-based revival in private investment cycle not imminent
Indian Sugar Sector: Healthy Prices Augur Well For Profitability Of Sugar Mills; However, Western And Southern Mills Affected By Slide In Cane Crushing Volumes
Indian Power Sector: Progress On Debt Refinancing Under Uday Leading To Improved Liquidity Profile Of The Discoms; However Slow Progress Observed In Filing Of Tariff Petitions For Fy2018 By Discoms
Indian Commercial Vehicle Industry: Near-Term Demand Subdued But Focus On Infrastructure And Scrappage Program To Support Sales In Fy 2018
More...
  ICRA Over the Years: A Chronicle

ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) was set up in 1991 by leading financial/investment institutions, commercial banks and financial services companies as an independent and professional Investment Information and Credit Rating Agency. Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA Limited is a Public Limited Company, with its shares listed on the Bombay Stock Exchange and the National Stock Exchange.

2014
Moody’s expands its ownership stake in ICRA by increasing equity ownership stake from 28.51% to 50.06% of the paid up equity share capital of ICRA.

ICRA Techno Analytics Limited, a wholly-owned subsidiary of ICRA, through its subsidiary ICRA Global Capital Inc., increases its equity ownership stake to 100% in BPA Technologies, Inc. (BPA), a California-based global technology services firm focused on the areas of Enterprise Content Management (ECM), Portal and Collaboration.

2013
ICRA Techno Analytics Limited, a wholly-owned subsidiary of ICRA, through its subsidiary ICRA Global Capital Inc., increases its equity ownership stake to 75.1% in BPA Technologies, Inc. (BPA), a California-based global technology services firm focused on the areas of Enterprise Content Management (ECM), Portal and Collaboration.

IMaCS and Cambridge Systematics, Inc. sign an MoU to collaborate in providing consulting services in the Transportation sector across India, South East Asia, and Africa.

IMaCS’ Quantitative Analytics Practice launches a pan-India bond valuation service that disseminates prices of over 4000 (illiquid) fixed income securities as a daily service.

2012
ICRA Nepal Limited (ICRANepal) obtains licence from the Securities Board of Nepal (SEBON) to launch Rating Services in Nepal. ICRANepal is the first credit rating company granted licence by SEBON.

ICRA Techno Analytics Limited, a wholly-owned subsidiary of ICRA, through its subsidiary ICRA Global Capital Inc., acquires a majority equity ownership stake of 50.1% in BPA Technologies, Inc. (BPA), a California-based global technology services firm focused on the areas of Enterprise Content Management (ECM), Portal and Collaboration.

2011

ICRA Lanka Limited granted registration to function as a Credit Rating Agency by the Securities and Exchange Commission of Sri Lanka

Axiom Technologies Limited, a wholly owned subsidiary of ICRA Techno Analytics Limited (ICTEAS) has merged into ICTEAS following the Order passed by the Hon’ble Calcutta High Court

ICRA has been granted a letter of intent by the Securities Board of Nepal (SEBON) to establish a Credit Rating Agency in Nepal

PT. ICRA Indonesia has received recognition as a Credit Rating Agency from Bank Indonesia, Indonesia’s Central Ban

2010
PT. ICRA Indonesia obtains a License from the Capital Market and Financial Institutions Supervisory Agency, Indonesia (Bapepam-LK) to launch Rating Services in Indonesia

 

IMaCS and EXSAB sign MoU for setting up a joint venture at Riyadh for consulting business in the Middle East and North Africa.

2009
ICRA Techno Analytics Inc., New Jersey, USA, a wholly owned subsidiary of ICRA Techno Analytics Limited (ICTEAS) acquires 100 per cent stake in Sapphire International Inc. (Sapphire), a Delaware Corporation based out of Trumbull, Connecticut, USA.

2008
ICRA Management Consulting Services Limited launches Consulting Services for Carbon Management.

ICRA Management Consulting Services Limited and Virtus Global Partners Inc. sign a Memorandum of Understanding to jointly offer advisory/consulting services to clients based in the USA and in India.

ICRA Techno Analytics Limited acquires Axiom Technologies Private Limited, a Kolkata-based software services company.

ICRA Management Consulting Services Limited and Dun & Bradstreet Philippines, Inc. sign a Memorandum of Understanding to jointly offer advisory/consulting services in the Philippines.

2007
The Equity Shares of ICRA Limited are listed on the Bombay Stock Exchange and National Stock Exchange on April 13, 2007.

Moody’s Investment Company India (Pvt.) Limited makes additional investments in the equity shares of ICRA Limited.

ICRA Limited renews its Technical Cooperation Agreement with the Credit Rating Agency of Bangladesh (CRAB) for another three years.

2006
ICRA Limited acquires Computer Exchange Private Limited (subsequently renamed ICRA Techno Analytics Limited).

ICRA Limited acquires ICRA Online Limited.

ICRA Limited demerges its Consulting Division and transfers the same to ICRA Management Consulting Services Limited with effect from April 1, 2005.

2005
ICRA launches the NSIC-ICRA Performance and Credit Rating Scheme for Small Scale Enterprises in India.

2004
ICRA Limited enters into a ’Technical Services Agreement’ with Credit Rating & Collection, Kuwait on December 26, 2001 for a period of three years. The said Agreement extended for a further period of three years with effect from December 26, 2004.

Moody’s Investment Company India (Pvt) Limited increases its equity stake to 29% in ICRA Limited.

ICRA Limited launches the service of Grading of Maritime Training Institutes in India.

ICRA Limited launches Outsourced Services Group.

ICRA Limited launches the service of Grading of Mutual Fund Management Quality.

2003
ICRA Limited and Online IndiaCapital.com enter into a Shareholder and Subscription Agreement, besides a Technical Services Agreement. (Online IndiaCapital.com is subsequently renamed ICRA Online Limited).

ICRA Limited launches Project Finance Assessment/Rating Service.

2002
ICRA launches a Grading Scheme for Healthcare institutions in India.

2001
Moody’s Investment Company India (Pvt.) Limited becomes the largest shareholder in ICRA Limited by acquiring an additional 9% equity stake.

ICRA Limited and the National Real Estate Development Council (NAREDCO) jointly launch the ICRA-NAREDCO Grading System for real estate developers and projects.

ICRA Limited launches it’s Corporate Governance Ratings (CGR) for the Indian Market with a focus on corporate’ business practices and quality of disclosure standards.

1999
Moody’s Investors Service (Moody’s) and ICRA Limited sign an Agreement that enables Moody’s to make an equity investment in ICRA Limited and provide technical services to it.

ICRA Limited launches Grading Service for entities involved in construction projects including contractors, consultants, project owners and the project itself.

ICRA Limited launches Rating service for Debt Fund Scheme of Indian Mutual Funds.

ICRA Limited becomes the first Indian Rating Agency to rate all Non-Life Insurance companies in the country.

1998
Moody’s Investors Service (Moody’s) and ICRA Limited announce their mutual agreement to Moody’s picking up a minority stake in the equity capital of ICRA Limited.

ICRA introduces a Rating Methodology for the Claims Paying Ability of General Insurance companies in India.

1997
ICRA Limited launches ICRA Bulletin: Money & Finance, a periodical publication directed towards institutions and individuals with an interest in understanding the reasons underlying policy initiatives and outcomes.

1996
ICRA Limited signs an agreement with Financial Proformas Inc (FPI), now called Moody’s Risk Management Services to provide credit education, risk management software, credit research and consulting services to commercial banks, financial and investment institutions, financial services companies and mutual funds in India.

1995
ICRA Limited launches the service of Credit Assessment for small and medium scale industries (under the Cluster Approach of the Confederation of Indian Industry).

ICRA Limited launches the service of Earnings Prospects and Risk Analysis (EPRA) for the Equity Investors.

1993
ICRA Limited launches Investment Information Service and Research Publications.

1991
ICRA Limited launches Credit Rating Service on September 1, 1991.

Investment Information and Credit Rating Agency of India Limited (later renamed ICRA Limited) is incorporated on January 16, 1991.