Update about cancellation of the acquisition of RSL Insurance Brokers Private Limited.
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Rikhav Securities Ltd has cancelled its planned acquisition of RSL Insurance Brokers Private Limited. Earlier, on September 6, 2025, the board had approved acquiring 49,980 equity shares (99.96% stake) in RSL Insurance Brokers at Rs. 5.39 per share. However, after conducting a feasibility study, the management concluded that proceeding with the acquisition would not be in the best interest of the business. Based on this, the board at its meeting on September 29, 2025 formally decided not to go ahead with the deal.
The cancellation removes the potential diversification opportunity into the insurance broking space. For shareholders, this means no fresh capital will be deployed for this acquisition, preserving cash, but also no near-term revenue diversification from the insurance brokerage business.