Acquisition of 49,980 equity shares of Rs. 5.39 each (99.96)% of RSL Insurance Brokers Private Limited by way of share transfer, consequent to which it stands recognized as a Subsidiary ....
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Rikhav Securities Ltd has approved the acquisition of 49,980 equity shares (99.96%) in RSL Insurance Brokers Private Limited for Rs. 2,69,392.20 in cash. RSL Insurance Brokers is a newly incorporated company (April 2025) that has not yet started operations and is awaiting regulatory licenses from insurance authorities. The acquisition is from related parties — Bharti Hitesh Lakhani and Deep Lakhani (relatives of the MD) — and is being done at arm's length. Rikhav, currently a stock broking firm, sees insurance broking as a natural diversification opportunity leveraging its existing client base. Completion is expected within 15–30 days.
Minor near-term impact since the target is a newly formed, pre-revenue shell awaiting regulatory approvals. Strategically, it signals the company's intent to diversify beyond stock broking into insurance broking, though meaningful earnings contribution is likely years away pending licensing and business ramp-up.