IIRM Holdings India Ltd. Acquires Stake in Saferisk Insurance Brokers Private Limited
IIRM Holdings India Limited (formerly Sudev Industries Limited) announced the acquisition of equity shares in Saferisk Insurance Brokers Private Limited by its wholly-owned subsidiary, India Insure Risk Management and Insurance Broking Services Private Limited. The acquisition, disclosed on March 24, 2026, follows prior communications dated July 31, 2025, and October 30, 2025.Saferisk Insurance Brokers Private Limited, incorporated on December 1, 2014, is an insurance broking firm based in Bhubaneswar. Its turnover for the fiscal year 2024-25 was ₹27.78 crore, with a net worth of ₹1 crore. The company’s turnover for 2023-24 and 2022-23 was ₹33.82 crore and ₹25.8 crore, respectively.
The acquisition will result in Saferisk becoming a wholly-owned subsidiary of IIRM Holdings India Limited. The consideration includes a combination of cash and equity shares, tentatively valued at ₹29,70,80,000. The allotment of equity shares will occur within 15 days from the date of the Special Resolution passed by the Members, subject to regulatory approvals.
Regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) is required for the acquisition. Further details regarding the cost of acquisition and the price at which the shares were acquired will be provided subsequently.
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