The Board of Directors of CRISIL Limited has approved acquisition of 100% of the equity share capital of Bridge to India Energy Private Limited, at a consideration of INR 6 crore, subject to closing adjustments.
Additionally, a payment of INR 1.3 crore will be paid upfront as non-compete fees. The binding agreement with respect to the acquisition has been signed today.
The acquisition is subject to meeting customary closing conditions.
Bridge To India is a renewable energy (RE) consulting & knowledge services provider to financial and corporate clients in India. FY March 2023 revenue from operations was INR 6.07 Crore.
Bridge To India's profit after tax was INR 10 Lakhs in FY 2023 and Net worth was INR 105 Lakhs.
The acquisition will augment CRISIL's existing offerings and bolster our market positioning in the renewable energy space.
Shares of CRISIL Limited was last trading in BSE at Rs. 3851.85 as compared to the previous close of Rs. 3921.00. The total number of shares traded during the day was 1456 in over 358 trades.
The stock hit an intraday high of Rs. 3926.50 and intraday low of 3816.45. The net turnover during the day was Rs. 5634068.00.