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Insurance broker IIRM to raise Rs.150-Cr led by Carpediem Capital

BSE Announcement   YourStory  

Publicly-listed, Hyderabad-based insurance distribution-focused IIRM Holdings is to raise INR 150 crore through a combination of equity shares and fully convertible warrants (at a price of INR 143.28). The investment is led by Carpediem Capital and Sanshi Fund - I (a Category III AIF led by Saranya Agrawal & Chintan Desai).The flagship company in the IIRM group - India Insure Risk Management and Insurance Broking Services Private Limited - is the first Licensed Insurance Broking company in India. In FY26, IIRM Holdings handled business volumes (GWP) in excess of INR 1,600 crore, through operating companies spanning India, Singapore, Sri Lanka, the Maldives and Kenya, supported by 18 offices and more than 500 employees, serving around 2,000 corporate clients, 100,000 retail customers and 100+ reinsurer partner-relationships worldwide.The company intends to use the funding proceeds to support business expansion, execute strategic investments and acquisitions, fund capital expenditure, and meet working capital requirements.