Outcome of the Board meeting held on 06.09.2025
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The board of Rikhav Securities approved the acquisition of 49,980 equity shares (99.96% stake) of RSL Insurance Brokers Private Limited at Rs. 5.39 per share, for a total cash consideration of about Rs. 2.69 lakhs. The target company is newly incorporated (April 18, 2025), has not started operations yet, and is still awaiting regulatory licences from insurance authorities. The acquisition is a related party transaction, with shares being acquired from the promoter's family members (Bharti Hitesh Lakhani and Deep Lakhani), and is being done on an arm's length basis. Rikhav, currently a stock broking firm, sees this as a natural diversification into the insurance sector, leveraging existing client base and operational synergies. The deal is expected to close within 15-30 days, after which RSL Insurance Brokers will become a subsidiary.
This is a small cash acquisition (under Rs. 3 lakhs) of a pre-revenue, newly incorporated insurance entity, so immediate financial impact is minimal. However, it signals management's intent to diversify into insurance broking from its core stock broking business. Shareholders should note the related party nature of the deal, though it has been confirmed as arm's length; the subsidiary will only become meaningful once it secures regulatory approvals and starts operations.