March 2026:
IIRM Holdings India Limited has announced the acquisition of 100% stake in Safe Risk Insurance Brokers Private Limited through its wholly owned subsidiary, India Insure Risk Management and Insurance Broking Services Private Limited.
The proposed acquisition, subject to regulatory approvals, will strengthen IIRM’s presence in the insurance broking and risk management space.
Deal structure and consideration
The transaction will be executed through a combination of cash and equity. The non-cash component involves issuance of equity shares valued at approximately ₹29.7 crore, based on mutual valuation and certification by a registered valuer. Additionally, a cash consideration of around ₹55.12 crore will be paid, taking the total deal value to a tentative ₹84.8 crore.
The final cost of acquisition will be disclosed upon completion of share acquisition.
Regulatory approvals and timeline
The deal is subject to approval from the Insurance Regulatory and Development Authority of India (IRDAI). The company said the allotment of shares is expected to be completed within 15 days from the date of necessary approvals and shareholder resolution.
Strategic rationale
Upon completion, SafeRisk will become a wholly-owned subsidiary of IIRM Holdings. The acquisition is expected to enhance the company’s capabilities in insurance broking, risk advisory, and claims consultancy, aligning with its core business.
The company clarified that the transaction is not a related-party deal and has been undertaken at arm’s length.
About SafeRisk
Incorporated in 2014 and headquartered in Bhubaneswar, SafeRisk operates in the insurance broking industry. It reported a turnover of ₹27.78 crore in FY2024-25, compared to ₹33.82 crore in FY2023-24 and ₹25.8 crore in FY2022-23.
The company also reported a net worth of ₹17.91 crore and a profit after tax of ₹1 crore for FY2024-25.
The acquisition marks a key step in IIRM Holdings’ strategy to scale its insurance services platform and expand its footprint in India’s growing financial services sector.
