CRISIL Ltd. — Capital/Financing Update 2024

Dec 12, 2024

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December 12, 2024

Listing Department National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5[th] floor P J Towers Plot No. C/1, G Block Dalal Street Bandra-Kurla Complex Mumbai 400 001 Bandra (East) Mumbai 400 051

Dear Sirs,

Sub.: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ Listing Regulations ”)

Pursuant to Regulation 30 read with Schedule III of the Listing Regulations, we wish to inform you that the Board of Directors of CRISIL Limited, has approved an investment in the equity capital of Online PSB Loans Limited of an amount of Rs. 33.25 crores, to acquire a 4.08% stake in it, on post-money, fully diluted basis.

The investment is subject to negotiating the definitive shareholders’ agreements, closing of the offer process and executing necessary documentation.

The meeting of the Board of Directors commenced at 6.30 p.m. IST and concluded at 7:20 p.m. IST today.

Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

This is for your information and records.

Yours sincerely, For CRISIL Limited

Digitally signed by MINAL AMIT MINAL AMIT BHOSALE BHOSALE Date: 2024.12.12 19:26:25 +05'30'

Minal Bhosale Company Secretary ACS 12999

Encl.: as above

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363

Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisil.com

Information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

1.	Name of the target entity, details in briefsuch as size, turnover etc.	Name: Online PSB Loans Limited (hereinafter referredto as “OPL”)OPL was incorporated in 2015 and has offices inAhmedabad (Head Office) and Mumbai. OPL is apioneer in the digital MSME credit ecosystemtransformation, connecting with multiple banks andestablishing best-in-class, secure & scalable lendinginfrastructure catering to MSMEs and lenders. OPL hasalso expanded into insurance and agriculture ecosystems.In FY2023-24, OPL’s total revenue was Rs. 44.87 crores(YoY growth of ~37%), Networth was Rs. 51.49 croresand the Profit After Tax was Rs. 0.17 crores.
2.	Whether the acquisition would fall withinrelated party transaction(s) and whether thepromoter/promotergroup/groupcompanies have any interest in the entitybeing acquired? If yes, nature of interestand details thereof and whether the same isdone at “arms length”.	No
3.	Industry to which the entity being acquiredbelongs	Digital credit infrastructure company
4.	Objectsandimpactofacquisition(including but not limited to, disclosure ofreasons for acquisition of target entity, if itsbusiness is outside the main line ofbusiness of the listed entity)	This is a minority stake investment to participate in thedigital credit infrastructure ecosystem given OPL’sproven track record in partnering with leading financialinstitutions in this space. In addition, there may beopportunities to partner with OPL in areas related toMSME and agriculture sectors.
5.	Brief details of any governmental orregulatory approvals required for theacquisition.	No, this investment will not require any governmental orregulatory approvals. The investment is subject tomeeting customary closing conditions.
6.	Whether the transaction will be in tranches	No
7.	Indicative time period for completion of theacquisition	The investment is subject to negotiating the definitiveshareholders’ agreements, closing of the offer processand executing necessary documentation. This investmentis expected to be completed within 45 days from theexecution of the definitive shareholders’ agreement,subject to mutually agreed extensions amongst theparties.

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363

Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisil.com

			The consideration will be paid in cashRs. 33.25 crores0%4.08% stake on post-money, fully diluted basisOPL was incorporated in 2015 and has offices inAhmedabad (Head Office) and Mumbai. OPL is apioneer in the digital MSME credit ecosystemtransformation connecting with multiple banks andestablishing best-in-class, secure & scalable lendinginfrastructure catering to MSMEs and lenders in India.Key product offerings include PSB loans in 59 minutes,JanSamarth, Sahay Infrastructure (GST Sahay), PrayaasLoans, and FIT Rank. OPL had total revenue of Rs. 44.87crores in FY2024, Rs. 32.87 crores in FY2023 and Rs.25.36 crores in FY2022, respectively.India
	8.	Nature of consideration – whether cashconsideration or share swap and details ofthe same	The consideration will be paid in cash
	9.	Cost of acquisition or the price at which theshares are acquired	Rs. 33.25 crores
	10.	Existing percentage of shareholding heldby acquirer	0%
	11.	Percentage of shareholding / controlacquired and / or number of shares acquired	4.08% stake on post-money, fully diluted basis
	12.	Brief background about the entity acquiredin terms of products/ line of businessacquired, date of incorporation, history oflast 3 years turnover, country in which theacquired entity has presence and any othersignificant information (in brief)	OPL was incorporated in 2015 and has offices inAhmedabad (Head Office) and Mumbai. OPL is apioneer in the digital MSME credit ecosystemtransformation connecting with multiple banks andestablishing best-in-class, secure & scalable lendinginfrastructure catering to MSMEs and lenders in India.Key product offerings include PSB loans in 59 minutes,JanSamarth, Sahay Infrastructure (GST Sahay), PrayaasLoans, and FIT Rank. OPL had total revenue of Rs. 44.87crores in FY2024, Rs. 32.87 crores in FY2023 and Rs.25.36 crores in FY2022, respectively.
	13.	Country in which the acquired entity haspresence	India

CRISIL Limited

Corporate Identity Number: L67120MH1987PLC042363

Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisil.com