The announcement was made during market hours today, 28 May 2014.

Meanwhile, the S&P BSE Sensex was up 8.19 points or 0.03% at 24,557.70.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 1,442 shares in the past one quarter.

The stock hit a high of Rs 2,400 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,000 so far during the day. The stock had hit a 52-week low of Rs 938.10 on 31 May 2013.

The stock had underperformed the market over the past one month till 27 May 2014, advancing 6.57% compared with the Sensex's 8.2% rise. The scrip had also underperformed the market in past one quarter, gaining 6.21% as against Sensex's 16.97% rise.

The small-cap company has equity capital of Rs 10 crore. Face value per share is Rs 10.

The revised offer price of Rs 2,400 per share shall be paid to all shareholders who have validly tendered their equity shares in the offer subject to the other terms and conditions set out in the letter of offer (LoF), the revised offer document stated.

It may be recalled that Moody's Singapore Pte had on 21 February 2014 announced a conditional open offer for acquisition of up to 26.50 lakh equity shares at Rs 2,000 per share from the shareholders of ICRA.

Moody's intends to raise its shareholding in ICRA by way of acquisition of up to 26.5% of voting share capital in ICRA through the voluntary open offer (which together with the present shareholding of Moody's Singapore Pte and the PAC in ICRA, would result in Moody's Singapore Pte and the PAC holding up to 55% of voting share capital in ICRA).

ICRA's consolidated net profit declined 14.3% to Rs 22.03 crore on 0.1% growth in total income to Rs 83.39 crore in Q4 March 2014 over Q4 March 2013.

ICRA is an independent and professional investment information and credit rating agency.