Rikhav Securities Acquires 99.96% Stake in RSL Insurance Brokers for Rs. 2,69,392.20

Rikhav Securities Ltd has acquired 49,980 equity shares of Rs. 5.39 each (99.96%) of RSL Insurance Brokers Private Limited by way of share transfer. This acquisition makes RSL Insurance Brokers a subsidiary of Rikhav Securities. The acquisition cost is Rs. 2,69,392.20. RSL Insurance Brokers is a newly incorporated company in the Insurance (Financial Services) Industry. The business is yet to start. The acquisition is done at arm’s length and the promoters are interested in the transaction. The transferee company is in the business of Stock broking and wants to acquire Insurance business considering operational synergies, available client pace and potential opportunities in the Insurance sector.