ICRA Analytics to acquire remaining 40% in D2K Technologies for INR 32 cr

Listed Co AcquisitionStrategic Transactions View source PDF Explain this filing

ICRA · price

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Price reactionminutes from the announcement price · days from the prior close

-1.5%Reaction day

₹5350.00

prior close

₹5279.00

announcement price

In-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-1.2% vs market

Capital Markets peers, median of 63sector · industry level-0.8%-0.7% vs sector

On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 0.7 pts less than its Capital Markets peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Sessions after the filingfrom the prior close

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Reaction day

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Next day

-1.8+0.8-2.6-0.1-1.7

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UpDownMarket · Nifty Microcap 250Sector · Capital Markets peers, median of 63Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

ICRA's material subsidiary ICRA Analytics will acquire the remaining 40% stake in D2K Technologies India for INR 32 crores in cash, making it a wholly owned step-down subsidiary. D2K, already a 60% indirect subsidiary, provides banking and finance software solutions to banks and financial institutions, with FY26 turnover of INR 23.76 crores (FY25: INR 25.05 crores). No regulatory approvals are required and the deal is a related party transaction done at arm's length.

Likely market impact

Consolidates 100% of D2K's revenue and profits within ICRA group. Small bolt-on, limited standalone impact on ICRA's earnings.