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ICRA has surged 17% to Rs 2,780, also its record high on NSE, after Moody’s Corporation, the promoter of the company, said that it has secured a majority equity ownership stake in credit rating agency to over 50%.
There was a block deal of 92,500 shares reported in the counter of credit rating agency ICRA. Ashoka Pte was the buyer at Rs 2,365 per share.
"Moody’s Singapore Pte Ltd along with Moody’s Investment Company India Private Limited and Moody’s Corporation collectively increased their stake in the company to 50.06% after the successful conclusion of open offer for a majority stake in the company," ICRA said.
The promoter – Moody’s Investment Company India Private Limited held 28.51% stake in the company as of March 31, 2014.
Moody’s had made an open offer to acquire 2.65 million shares or 28.51% stake in ICRA at Rs 2,400 per share. However, the promoter has successfully acquired 2.15 million shares or 21.55% stake in open offer.
The stock opened at Rs 2,380 and hit a low of Rs 2,375 on NSE. A combined 33,000 shares changed hands on the counter in early morning deals on NSE and BSE.
There was a block deal of 92,500 shares reported in the counter of credit rating agency ICRA. Ashoka Pte was the buyer at Rs 2,365 per share.
"Moody’s Singapore Pte Ltd along with Moody’s Investment Company India Private Limited and Moody’s Corporation collectively increased their stake in the company to 50.06% after the successful conclusion of open offer for a majority stake in the company," ICRA said.
The promoter – Moody’s Investment Company India Private Limited held 28.51% stake in the company as of March 31, 2014.
Moody’s had made an open offer to acquire 2.65 million shares or 28.51% stake in ICRA at Rs 2,400 per share. However, the promoter has successfully acquired 2.15 million shares or 21.55% stake in open offer.
The stock opened at Rs 2,380 and hit a low of Rs 2,375 on NSE. A combined 33,000 shares changed hands on the counter in early morning deals on NSE and BSE.
