Swastika Investmart has executed the sale of 5,25,000 equity shares representing 70% of Swastika Insurance Broking Services Limited to Mr. Sachin Malik, promoter and director of 1Click Global Private Limited.

As a result, Swastika Insurance Broking Services will no longer be a wholly owned subsidiary but will be treated as an associate company.

This divestment changes the company’s holding structure and could impact its consolidated operations and financials going forward.