Infomerics Valuation and Ratings eyes strategic investor to grow biz

Infomerics Valuation and Rating, a Delhi-based Reserve Bank of India (RBI)-accredited credit-rating agency, plans to rope in a strategic investor to enhance domain knowledge, and bring in technical expertise and systems to scale up business.

 

Shubham Jain, group chief executive officer (CEO), Infomerics, told Business Standard: “We are not looking at a financial investor. So, not a private equity (PE), or any such person. It has to be a strategic investor, because we need more domain expertise and technical assistance in terms of further strengthening methodologies, governance practices, and overall processes.”

 

Infomerics is a cash-flow-positive company, which is sitting on a good liquidity. It is not in need of funds. This (strategic investor induction) could possibly be done through secondary sale of part of holdings of existing stakeholders, Jain added.

 

He, however, did not indicate a timeframe for taking a strategic investor on board. Jain moved to Infomerics in June 2025. Prior to taking up this new assignment, he worked as group chief strategy officer with another credit-rating outfit Icra.

 

Infomerics is predominantly engaged in the rating of small- and medium-size enterprises with 4,000-plus clients, rating over ₹12 trillion of debt. It recorded 20 per cent year-on-year (Y-o-Y) growth in its turnover at ₹77.2 crore in 2024-25 (FY25). It is looking at 30 per cent growth to reach a turnover of ₹100 crore in the current financial year (FY26).

 

Other rating agencies operating in the Indian market space include Crisil, Icra, India Ratings, CareEdge, and Acuite Rating. Its peers like Crisil and Icra began as home-grown rating agencies — later, international agencies Standard and Poor’s and Moody’s acquired controlling stake in them, respectively.

 

While organic growth remains the focus, Infomerics would also scout for acquisition in analytics and technical support space.

 

Jain said the rating agency would be interested if it gets any good inorganic opportunity also, which adds to capabilities. Because it's always a decision between buy and build. “We will be interested in anything on risk, analytics and research, which aligns with our overall areas of specialisation. It should add to the synergy and overall vision of the group. The scale should also be commensurate with our operations. Compatibility is crucial,” he said.

 

In June 2025, its competitor Icra had entered into a definitive agreement to acquire Fintellix India — a Bengaluru-based provider of risk and reporting solutions to global financial institutions — for $26 million.