CRISIL falls by more than 4 per cent

CRISIL announced about the completion of acquisition of 100 per cent stake in Greenwich Associates LLC and its six subsidiaries as well. Despite this development, the stock of the company fell by more than four per cent on Wednesday.

Previously, it was reported that the acquisition of US-based Greenwich Associates and its six subsidiaries, would be done for about USD 40 million and through CRISIL Ltd’s 100 per cent subsidiary-CRISIL Irevna US LLC, according to a regulatory filing.

Greenwich is considered to be a well-established as well as a leading provider of proprietary benchmarking data, analytics and qualitative, insights to financial services firms worldwide. Based in Stamford (Connecticut), it serves more than 300 clients across top investment banks, corporate banks, commercial banks, asset managers and also key players in the market infrastructure space globally.

Reacting to the news, the stock of the company was trading at Rs 1,573.25, down by 4.18 per cent or Rs 68.65 per share. The 52-week high is Rs 2,070 and 52-week low is Rs 1,135.45 on BSE.