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Rating agency CareEdge to sell 19.8% stake in arm IFSC unit to SBI, NSE IFSC
Source Economic Times (opens in a new tab)BSE Announcements (opens in a new tab)
Publicly listed, Mumbai-based CareEdge Ratings is to sell a 19.8% equity stake in GIFT City, Gujarat-based subsidiary, CareEdge Global IFSC, to the State Bank of India (SBI) and NSE IFSC. The transaction involves the sale of a 9.9% stake to each of the two buyers.CareEdge Ratings (a brand of CARE Ratings Ltd), established in 1993, is India's second-largest credit rating agency.