Revised update about cancellation of the acquisition of RSL Insurance Brokers Private Limited.
Price
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Awaiting price reaction for this filing.
Rikhav Securities had earlier approved acquiring 99.96% stake (49,980 equity shares) in RSL Insurance Brokers Private Limited at a board meeting on September 6, 2025. After conducting a feasibility study, the management concluded that acquiring the company at this stage would not be in the business's interest. Accordingly, the Board at its September 29, 2025 meeting decided not to proceed with the acquisition. This is a revised outcome of the board meeting correcting a typographical error in point no. 1.
The deal is off, so no capital will be deployed for this acquisition. Short term, this avoids a potentially unfavourable investment; however, it also means no new revenue stream from the insurance broking business will materialise from this route.