Gretex Corporate Services Limited has announced its decision to acquire a 55% stake in Platinumone Insurance Broking Private Limited (PIBPL), a company in the insurance broking industry, subject to approval from the Insurance Regulatory and Development Authority of India (IRDA). The acquisition will be carried out for a monetary consideration of up to Rs 50 lakh.

This investment decision was approved through a resolution passed by the Management Committee of the Board of Directors at its meeting held on March 25, 2025. Upon completion of the proposed transaction, Platinumone Insurance Broking Private Limited (PIBPL) will become a subsidiary of Gretex Corporate Services Limited.

Key Details of the Acquisition

1. Nature of Investment:
   The proposed acquisition involves an investment in equity share capital, with Gretex Corporate Services Limited acquiring up to 55% of the paid-up share capital of Platinumone Insurance Broking Private Limited. The total investment is expected to be up to Rs 50 lakh.

2. Objective and Strategic Intent:
   The acquisition is aimed at enhancing the company’s offerings by providing insurance broking services to its clients. This move aligns with Gretex Corporate Services’ strategy to diversify its portfolio and offer value-added services to its existing clientele.

3. Regulatory Approvals Required:
   The proposed investment is subject to prior approval from the Insurance Regulatory and Development Authority of India (IRDA). Gretex Corporate Services will submit the necessary applications to IRDA and other regulatory authorities for obtaining required approvals.

Information as per SEBI (LODR) Regulations

As per the disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with relevant SEBI circulars, the following information is provided:

• Name of the Target Entity:
  The target entity is Platinumone Insurance Broking Private Limited (PIBPL), which has a paid-up capital of Rs 2,02,50,000.

• Related Party Transaction:
  This acquisition does not fall under related party transactions. Neither the promoter group nor the group companies have any interest in PIBPL.

• Industry of the Target Entity:
  PIBPL operates in the insurance broking industry, providing a range of services, including insurance brokerage, risk management, and claims assistance.

• Purpose of Acquisition:
  The acquisition is aimed at expanding the company’s service portfolio by offering insurance broking services to its clients, thereby enhancing the overall value proposition.

• Governmental and Regulatory Approvals:
  The acquisition is subject to IRDA’s approval and necessary updates will be provided after securing the required regulatory clearances.

• Timeframe for Completion:
  The completion of the acquisition is contingent upon receiving the necessary regulatory approvals and statutory clearances. The timeline will be communicated after the approvals are obtained.

• Nature of Consideration:
  The investment will be cash-based, with Gretex Corporate Services investing up to Rs 50 lakh for a 55% stake in PIBPL.

• Cost and Percentage of Acquisition:
  The cost of acquisition is estimated at Rs 50 lakh, and the percentage of shareholding to be acquired is 55%.

Background of Platinumone Insurance Broking Private Limited

Platinumone Insurance Broking Private Limited (PIBPL) is a private limited company incorporated on July 7, 2011, with its Corporate Identification Number (CIN) U66000MH2011PTC219533. The company operates in the insurance broking sector, offering a wide range of services, including:

• Insurance Brokerage: Acting as intermediaries between clients and insurance companies, assisting clients in identifying suitable insurance policies.

• Risk Management: Providing advice to businesses and individuals on risk management and asset protection strategies.

• Claims Assistance: Helping clients file and manage insurance claims to ensure appropriate compensation.

Financial Performance of PIBPL (Last 3 Years)

• FY 2024: Rs 89.32 lakh turnover

• FY 2023: Rs 68.08 lakh turnover

• FY 2022: Rs 84.75 lakh turnover

Strategic Impact of the Acquisition

This strategic acquisition will enable Gretex Corporate Services Limited to broaden its service offerings by integrating insurance broking services into its existing business model. The acquisition is expected to:

• Enhance the company’s revenue streams by tapping into the insurance sector.

• Strengthen the company’s value proposition by providing insurance-related services to its existing clients.

• Allow the company to leverage the expertise of Platinumone Insurance Broking Private Limited in risk management and claims assistance.

Conclusion

The decision by Gretex Corporate Services Limited to acquire a 55% stake in Platinumone Insurance Broking Private Limited reflects its commitment to diversifying its portfolio and expanding its service offerings. The acquisition is subject to obtaining regulatory approvals from IRDA, and the company will keep the stakeholders informed about the progress. Upon successful completion of the acquisition, Platinumone Insurance Broking Private Limited will become a subsidiary of Gretex Corporate Services Limited, contributing to its long-term growth and value creation.

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