Outcome of Board Meeting (Board approves Buy-back of Equity Shares)

• Security Code: 532835
• Company: ICRA

ICRA Ltd has informed BSE that the Board of Directors of the Company at its meeting held February 09, 2017 has approved the proposal of Buyback of the Company's fully paid-up equity shares of the face value of Rs. 10 each (hereinafter referred to as the "Equity Shares") from its shareholders/beneficial owners, other than those who are promoters, members of the promoter group and persons in control, from the open market through stock exchanges mechanism i.e. using the electronic trading facilities of the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE"), where the Equity Shares are listed for a total amount not exceeding Rs. 40 crore (the "Maximum Buy back Size"), and at a price not exceeding Rs. 4,500 per Equity Share (the "Maximum Buyback Price").