CARE Ratings Sells 19.8% Stake in Subsidiary CGIL

Date: October 19, 2026

Disinvestment / Strategic Actions

CARE Ratings Limited has executed Share Purchase Agreements and a Shareholders' Agreement with State Bank of India (SBI) and NSE IFSC Limited (NSEIX) for the sale of partial stake in its wholly owned subsidiary CareEdge Global IFSC Limited (CGIL).

• The Company is selling 9.90% equity stake each to SBI and NSEIFSC, totaling 19.80% stake dilution
• Upon completion of closing actions and receipt of requisite approval from the Board of CGIL for transfer of shares, CGIL will cease to be a wholly owned subsidiary of CARE Ratings
• Post-transaction, CARE Ratings will continue to hold 80.20% equity stake in CGIL
• Closing actions are expected to be completed within two months from October 19, 2026
• This update follows previous intimations dated November 12, 2025 and May 13, 2026 regarding the partial stake sale

The transaction represents a strategic divestment that alters the subsidiary ownership structure but maintains majority control for CARE Ratings.