Promoter Vurakaranam Ramakrishna executed a Non-Disposal Undertaking on 2,00,00,000 equity shares (29.35% of total capital) dated March 28, 2026.
NDU is in favour of Axis Trustee Services Limited against NCDs of ₹65 crore issued by wholly owned subsidiary India Insure Risk Management and Insurance Broking Services Pvt Ltd.
Value of encumbered shares is ₹161.66 crore, providing a cover ratio of 2.49x against the required 2x; proceeds to fund subsidiary's organic and inorganic growth.
Disclosure filed under Regulation 31(1) & (3) of SEBI (SAST) Regulations, 2011 with BSE (526530) and Calcutta Stock Exchange (029404).