Acquisition by India Insure (WOS).
Price
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IIRM Holdings India Ltd's wholly owned subsidiary, India Insure Risk Management and Insurance Broking Services Pvt Ltd, is acquiring 100% of SafeRisk Insurance Brokers Pvt Ltd, a Bhubaneswar-based insurance broking firm incorporated in December 2014. The total tentative consideration is around Rs 84.83 crore, split into cash (Rs 55.12 crore) and shares (Rs 29.71 crore, based on a registered valuer's certificate). SafeRisk reported turnover of Rs 27.78 crore in FY25 (down from Rs 33.82 crore in FY24) and a profit after tax of Rs 17.91 crore. On completion, SafeRisk will become a step-down subsidiary of IIRM Holdings. The deal requires IRDAI approval and is not a related party transaction.
This acquisition expands IIRM Holdings' presence in the insurance broking space through its subsidiary, adding a profitable business with Rs 17.91 crore PAT. Shareholders should watch for IRDAI approval progress and the final deal cost, which could meaningfully scale up the company's insurance broking business.