Prism Johnson Completes Sale of Raheja QBE Insurance Stake in Material Subsidiary
Prism Johnson Ltd has completed the sale of its shareholding in Raheja QBE General Insurance Company Limited (RQBE) to QBE Holdings (AAP) Pty Limited. The transaction was finalized after the close of normal trading hours on 1 July 2026, marking a significant change for the company's operations.The completion of the Proposed Transaction means that RQBE has ceased to be a subsidiary of Prism Johnson as of 1 July 2026. This sale followed an earlier agreement dated 2 March 2026 between Prism Johnson and QBE Holdings regarding the acquisition of the stake in RQBE, which is a material unlisted subsidiary.
Concurrently with the sale, the joint venture involving Prism Johnson and Australia’s QBE Group in the general insurance business in India has been terminated. Additionally, the shareholders’ agreement previously held between Prism Johnson and QBE has also come to an end.
PRSMJOHNSN Stock Price Movement
On Wednesday, Prism Johnson Limited shares shed value, slipping 0.77% to close at ₹116.41 after a turbulent session. The stock tumbled to meet its 52-week low in trading, with the equity seeing heavy interest reflected in the 110,865 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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