Pioneer Investcorp Ltd. Acquires Shares in Pioneer Insurance & Reinsurance Brokers Private Limited
Pioneer Investcorp Limited announced the acquisition of shares in Pioneer Insurance & Reinsurance Brokers Private Limited on March 27, 2026, via a rights issue. The company was allotted 7,80,000 equity shares with a face value of ₹10 each at par, for a total cash consideration of ₹78,00,000.Pioneer Insurance & Reinsurance Brokers Private Limited is an associate company of Pioneer Investcorp Limited and operates as a composite insurance broker licensed by the Insurance Regulatory and Development Authority (IRDAI). As of March 31, 2025, the company had an authorized share capital of ₹10,00,00,000 and a paid-up share capital of ₹8,00,00,000.
The acquisition was conducted on an arm's length basis. The company’s holding in Pioneer Insurance & Reinsurance Brokers Private Limited now stands at 14.58%.
The turnover of Pioneer Insurance & Reinsurance Brokers Private Limited for the past three financial years is as follows:
| Financial Year | Amount (₹ Lakhs) |
|---|---|
| 2024-25 | 10458.89 |
| 2023-24 | 9951.59 |
| 2022-23 | 8118.13 |
Source:
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