Mphasis Bolsters Insurance Tech Arm with Full Acquisition of UK Subsidiary Mrald

Mumbai, January 18, 2026: IT services major Mphasis Limited has acquired complete ownership of Mrald Limited (UK), strengthening its foothold in the insurance technology sector. The company's wholly owned UK subsidiary, Mphasis Consulting Limited, purchased the remaining 49% stake from joint venture partner Ardonagh Services Limited for cash consideration. The deal, completed immediately, was disclosed under SEBI's Regulation 30 (LODR) on January 17. Mphasis exercised its call option after five years of the JV agreement, where it already held operational control and full economic interest. Post-acquisition, Mrald becomes a step-down wholly owned subsidiary. The transaction maintains the existing commercial model, with Ardonagh remaining a key customer. Mphasis believes it is now scaled to independently serve the insurance intermediaries market. Mrald specializes in operational and digital transformation for insurance intermediaries and reinsurers, offering claims processing, client administration, payments, data management, and IT infrastructure. Its turnover surged from ₹16.76 crore in FY23 to ₹53.64 crore in FY24 and ₹83.99 crore in FY25. This move enhances Mphasis' insurance vertical, bolstering digital broking capabilities amid its transformation-led growth strategy. Shares of Mphasis traded flat in early deals today. Disclaimer: For informational purposes only; not investment advice.