With reference to our intimation dated 07.11.2025 related to proposed incorporation of a Wholly owned Subsidiary (WoS), in this regard, please be informed that as per the approval received ....
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Ashika Credit Capital Ltd has incorporated a wholly-owned subsidiary named Ashika Global Insurance Advisors Private Limited (AGIAPL) on 12th December 2025, following ROC approval. AGIAPL will operate in the insurance sector as a Corporate Agent (Composite), subject to IRDAI registration and other regulatory approvals. The subsidiary has an authorised and paid-up capital of Rs. 5 crore (50 lakh equity shares of Rs. 10 each) and is yet to commence operations with nil turnover. The company will fully subscribe to the share capital in cash at face value, with completion targeted on or before 31st March 2026. The transaction qualifies as a related party transaction as ACCL is the promoter of the new entity.
This marks Ashika Credit Capital's strategic diversification from its core NBFC business into insurance distribution, potentially opening a new revenue stream once IRDAI approvals are secured. Near-term impact is limited as the subsidiary is yet to begin operations and will require regulatory clearances.