Xcelerate Acquires Stake in Stirrup Communication

By siliconindia  |  Friday, 05 April 2024, 09:35:09 AM IST

Xcelerate Acquires Stake in Stirrup Communication
Singapore-based GRC and ESG investment platform, Xcelerate, has recently made a strategic move by acquiring a significant equity stake in Stirrup Communication, India's premier stakeholder communications consultancy. The transaction, whose financial details remain undisclosed, marks a notable milestone for both entities, signaling a convergence of expertise in the realms of governance, risk management, compliance (GRC), and environmental, social, and governance (ESG) communication.
Stirrup Communication, founded by Arvind Agrawal, has emerged as a formidable player in the field, boasting a diverse clientele comprising over 250 prominent entities ranging from the esteemed Tata Group to the Birla Group. With a robust track record spanning more than 17 years, the consultancy has carved a niche for itself in ESG communications and corporate reporting. Notably, it has been instrumental in pioneering Integrated Reporting, Sustainability Reporting, and ESG Communication practices in India, setting industry benchmarks along the way.
The acquisition of Stirrup Communication by Xcelerate underscores the growing importance of effective ESG communication and advisory services in today's corporate landscape, particularly in light of increasing regulatory scrutiny. Notably, in July 2023, the Securities and Exchange Board of India (Sebi) introduced new ESG disclosure requirements, further emphasizing the need for comprehensive reporting standards among the top 1000 listed companies in India.
As part of the acquisition, K V Ramakrishna, former CEO of Kotak Private Equity, and KV Ramanand, CEO of XLSure India, are set to join the board of Stirrup. Meanwhile, founder Arvind Agrawal will continue to spearhead the company's operations, reporting directly to the board.
Stirrup's impressive clientele, which includes a significant portion of the Nifty 50 companies such as Reliance Industries, HDFC Bank, and Wipro, underscores its stature as a trusted advisor in the industry. By joining forces with Xcelerate, Stirrup aims to further expand its reach and influence in the ESG landscape while continuing to provide exemplary services to its esteemed clients.
With this strategic acquisition, Xcelerate solidifies its position as a leading player in the GRC and ESG investment space, leveraging Stirrup Communication's expertise to offer enhanced value propositions to its stakeholders. As businesses increasingly prioritize sustainability and responsible practices, partnerships like these are poised to drive meaningful change in the global corporate arena.

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