Crisil’s purchase of 8.9% stake in CARE Ratings under scrutiny
DSIJ Intelligence / 14 Aug 2017
As per a business daily, Crisil’s purchase of an 8.9% stake in rival credit rating firm CARE Ratings on June 29 has come under scrutiny by the Securities and Exchange Board of India (SEBI).
As per a business daily, Crisil’s purchase of an 8.9% stake in rival credit rating firm CARE Ratings on June 29 has come under scrutiny by the Securities and Exchange Board of India (SEBI). This is after CARE Ratings complained about a potential hostile takeover.
According to the report, SEBI has sought clarifications from Crisil about its motive to find out if this was a part of the company’s financial investment plan or a bid for a takeover. In a statement issued by Crisil, the company has stated that it is an investment because it is “otimistic about the long-term growth prospects of the credit rating sector.”
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