CRISIL hits record high after board nod to acquire minority stake in OPL

OPL is a pioneer in the digital MSME credit ecosystem transformation, connecting with multiple banks and establishing best-in-class, secure & scalable lending infrastructure catering to MSMEs and lenders. OPL has also expanded into insurance and agriculture ecosystems. Its revenue was 44.87 crore in FY24.

'This is a minority stake investment to participate in the digital credit infrastructure ecosystem given OPL's proven track record in partnering with leading financial institutions in this space. In addition, there may be opportunities to partner with OPL in areas related to MSME and agriculture sectors,' the company stated in exchange filing.

The investment is subject to negotiating the definitive shareholders' agreements, closing of the offer process and executing necessary documentation. This investment is expected to be completed within 45 days from the execution of the definitive shareholders' agreement, subject to mutually agreed extensions amongst the parties.

CRISIL is a global analytics company. It is India's foremost provider of ratings, data, research, analytics and solutions.

The company's consolidated net profit jumped 12.87% to Rs 171.55 crore on 10.32% increase in revenue from operations to Rs 811.84 crore in the quarter ended 30th September 2024 over 30th September 2023.

The counter hit an all time high at Rs 5,700 in intraday today.