Intimation for transfer of 525000 equity shares of Rs. 10 each of Swastika Insurance Broking Services Limited consisting 70% shareholding in favor of Mr. Sachin Malik, Promoter and Director ....
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Swastika Investmart has completed the sale (disposal) of 5,25,000 equity shares of Rs. 10 each, representing 70% of the shareholding in its wholly owned subsidiary, Swastika Insurance Broking Services Limited. The shares have been sold to Mr. Sachin Malik, who is a Promoter and Director of 1Click Global Private Limited. The transaction was carried out after receiving approval from IRDAI (Insurance Regulatory and Development Authority of India) vide letter dated 7th May 2025. As a result of this disposal, Swastika Insurance Broking Services will cease to be a wholly owned subsidiary of Swastika Investmart and will instead be classified as an associate company. The disclosure is being made in compliance with SEBI LODR Regulations 2015.
Shareholders should note that the company has divested a major stake in its insurance broking subsidiary, meaning this business will no longer be fully consolidated and will instead be treated as an associate. This could impact future revenue and earnings contribution from the insurance broking segment, though the move may also help the company streamline its focus or raise cash. The transaction is already completed and regulatory-approved.