Acquisitions27 Mar 2026, 05:41 pm
Pioneer Investcorp Ltd Acquires Additional Shares in Associate Company Pioneer Insurance & Reinsurance Brokers Private Limited
AI Summary
Pioneer Investcorp Limited has subscribed to equity shares in its associate company, Pioneer Insurance & Reinsurance Brokers Private Limited, pursuant to a Rights Issue. The company has been allotted 7,80,000 equity shares of face value ₹10/- each at par, for a cash consideration of ₹78,00,000/-. Pioneer Insurance & Reinsurance Brokers Private Limited is a composite insurance broker licensed by the Insurance Regulatory and Development Authority (IRDAI) with a turnover of ₹104,58,89,000 as of 31st March 2025.
Key Highlights
- Pioneer Investcorp Ltd has acquired additional shares in its associate company, Pioneer Insurance & Reinsurance Brokers Private Limited.
- The acquisition was made through a Rights Issue for a cash consideration of ₹78,00,000/-.
- Pioneer Insurance & Reinsurance Brokers Private Limited is a composite insurance broker licensed by the IRDAI with a turnover of ₹104,58,89,000 as of 31st March 2025.
- The transaction is conducted on an arm’s length basis.
- Pioneer Investcorp Ltd now holds 14.58% of Pioneer Insurance & Reinsurance Brokers Private Limited.
Price Impact
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