Aditya Birla Insurance Brokers is a subsidiary of Aditya Birla Capital.
Nifty Media index down by 2%.
The valuation of the company was estimated to be up to $3 billion.
Banking stocks may remain under selling pressure this week.
Silver futures witnessed a decline of Rs 211.
Amendment to end long term capital gains tax treatment of debt mutual funds put pressure on AMC stocks.
According to a BSE filing, the parties to the proposed transaction, for which a legally binding memorandum of understanding had previously been signed, had "executed a Share Purchase Agreement and finalized the transaction."
Money market funds saw inflows of $121 billion in the week in which SVB collapsed.