MphasiS Limited announced that its wholly owned subsidiary, Mphasis Consulting Limited, UK, has acquired the remaining 49% shareholding in Mrald Limited, UK, from its joint venture partner, Ardonagh Services Limited. This acquisition was exercised through a call option at the end of a five-year joint venture period. Following this transaction, Mrald Limited will become a wholly owned subsidiary of Mphasis Consulting Limited and a step-down wholly owned subsidiary of MphasiS Limited. MphasiS already held operating control and 100% beneficial interest in Mrald Limited, so this move is not expected to significantly alter the venture's economic model. Ardonagh Services Limited will continue to be a valued customer, with all existing agreements remaining unchanged. Mrald Limited is engaged in providing operational support and transformation services for insurance intermediaries and reinsurers, including client administration, payment processing, and digital solutions. The acquisition was a cash consideration, with the face value of 49 Ordinary Shares of £1 each being acquired. Mrald Limited reported a turnover of ₹83.99 crore in FY25, ₹53.64 crore in FY24, and ₹16.76 crore in FY23. The acquisition is considered immediate.
