Religare Enterprises Limited submitted a regulatory disclosure to the National Stock Exchange of India Ltd and BSE Limited regarding developments concerning its wholly-owned subsidiary, MIC Insurance Web Aggregator Private Limited (MIC).
The disclosure references previous announcements dated February 26, 2025 and May 12, 2026, where the company had informed about the suspension of operations of MIC and the subsequent surrender of its web aggregator license and closure of business.
The company informs that the Insurance Regulatory and Development Authority of India (IRDAI) has approved the voluntary surrender of MIC's License as Insurance Web Aggregator vide letter dated August 05, 2026. Consequently, MIC ceased to be an Insurance Web Aggregator effective from August 05, 2026.
An annexure provides details as prescribed under SEBI Listing Regulations read with Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, dated January 30, 2026 issued by SEBI:
- Regulatory authority: Insurance Regulatory and Development Authority of India (IRDAI)
- Details of approval/license: Certificate of Registration to act as Insurance Web Aggregator
- Impact/relevance to listed entity: No impact as MIC is not carrying on any business
- Withdrawal/cancellation/suspension details: Not Applicable
- License validity period: Not Applicable
- Subsequent actual impact reporting: Not Applicable
The disclosure was signed by Babu Rao P., Group General Counsel & Group Chief Compliance Officer of Religare Enterprises Limited, and was digitally signed on August 05, 2026 at 19:52:31 +05:30.