Acquisition by India Insure Risk Management and Insurance Broking Services Private Limited
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
IIRM Holdings India's wholly owned subsidiary, India Insure Risk Management and Insurance Broking Services Pvt Ltd, is acquiring 100% of SafeRisk Insurance Brokers Private Limited. After the deal, SafeRisk will become a step-down subsidiary of IIRM Holdings. The total deal value is around Rs. 84.82 crore, split between cash (Rs. 55.12 crore) and share-based consideration (Rs. 29.71 crore). SafeRisk is an insurance broking and risk advisory firm based in Bhubaneswar, incorporated in December 2014, with FY25 turnover of Rs. 27.78 crore and net worth of Rs. 17.91 crore. The acquisition is outside IIRM Holdings' main line of business and is subject to IRDAI approval and shareholder special resolution, with allotment expected within 15 days of receiving the last approval.
This is a sizeable acquisition (roughly 5x SafeRisk's FY25 turnover) that diversifies the company into insurance broking, though it is outside the existing core business. Shareholders should watch for shareholder approval, IRDAI clearance, and post-acquisition impact on consolidated financials.