IIRM Holdings India Ltd. Acquires Stake in Saferisk Insurance Brokers Private Limited
IIRM Holdings India Limited (formerly Sudev Industries Limited) announced the acquisition of Safe Risk Insurance Brokers Private Limited (SafeRisk) by its wholly-owned subsidiary, India Insure Risk Management and Insurance Broking Services Private Limited. The announcement was made on March 25, 2026, in continuation of previous disclosures dated July 31, 2025, and October 30, 2025.SafeRisk, incorporated on December 1, 2014, is primarily engaged in insurance broking, risk management, and claims consultancy. It is based in Bhubaneswar.
Financial Details of SafeRisk (2024-2025):
The table below outlines key financial details of SafeRisk for the past three financial years:
| Particulars | Details | Amount (in crore) |
|---|---|---|
| Turnover (2024-25) | 27.78 | |
| Net Worth (2024-25) | 17.91 | |
| PAT (2024-25) | 1 | |
| Turnover (2023-24) | 33.82 | |
| Turnover (2022-23) | 25.8 |
The acquisition will involve a combination of cash and consideration other than cash, including the issuance of equity shares. The tentative value of consideration other than cash is Rs. 29,70,80,000, and the tentative cash consideration is Rs. 29,70,80,000.
The acquisition requires approval from the Insurance Regulatory and Development Authority of India (IRDAI).
The Equity Shares will be allotted in dematerialized form within 15 days from the date of passing of the Special Resolution by the Members, subject to regulatory approvals.
The acquisition of 100% of Safe Risk Insurance Brokers Private Limited will result in SafeRisk becoming a subsidiary of IIRM Holdings India Limited.
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