CRISIL Limited has approved a scheme of amalgamation to merge its wholly owned subsidiary, Bridge to India Energy Private Limited, with itself. The merger aims to achieve operational synergies, effective management, and a reduction in legal and regulatory compliances.
The decision was taken during the board meeting held today and is subject to necessary statutory and regulatory approvals, including the approval of the National Company Law Tribunal (NCLT).
Bridge to India, acquired by CRISIL in September 2023, is a clean energy consulting and research firm. Since its acquisition, it has recorded a total income of ₹102.13 lakhs for the quarter ended December 31, 2023. CRISIL’s consolidated income for the year ending December 31, 2023, was ₹3,233 crore.
As the merger involves a wholly owned subsidiary, no new shares will be issued, and there will be no change in CRISIL’s shareholding pattern. The company confirmed that no cash consideration will be paid as part of this merger.
