Mphasis announced that its wholly-owned subsidiary, Mphasis Consulting Limited, UK, has acquired the remaining 49% shareholding in Mrald Limited, UK, from Ardonagh Services Limited. This acquisition makes Mrald Limited a wholly-owned subsidiary of Mphasis Consulting Limited and a step-down wholly-owned subsidiary of Mphasis. The initial joint venture was established in December 2021.
Acquisition of Mrald Limited
Mphasis, a leading IT solutions provider, announced on January 17, 2026, that Mphasis Consulting Limited, its wholly-owned subsidiary based in the UK, has completed the acquisition of the remaining 49% stake in Mrald Limited, UK.
Details of the Transaction
The acquisition involved Mphasis Consulting Limited exercising its call option to purchase the shares from Ardonagh Services Limited. Following this transaction, Mrald Limited has become a wholly-owned subsidiary of Mphasis Consulting Limited and a step-down wholly-owned subsidiary of Mphasis. The consideration for the acquisition was at face value.
About Mrald Limited
Mrald Limited provides operational support services and transformation services to insurance intermediaries and reinsurers, including client administration, payment processing, and data management. Mphasis Consulting Limited (51% stake) and Ardonagh Services Limited (49% stake) formed the joint venture in December 2021. Over the past three fiscal years, Mrald Limited has demonstrated consistent revenue growth.
Mrald Limited Financials
The turnover for Mrald Limited and its subsidiaries for the last three financial years is as follows:
| FY25 | Rs. 83.99 Cr. |
| FY24 | Rs. 53.64 Cr. |
| FY23 | Rs. 16.76 Cr. |
Strategic Rationale
This acquisition enables Mphasis to further enhance its service offerings and focus on digital insurance broking capabilities. Mphasis held operating control and 100% beneficial interest, so this is not expected to alter the venture’s economic model.
Source: BSE
