IIRM Holdings Announces ₹1500 Million Strategic Capital Raise

Mumbai: IIRM Holdings India Ltd (BSE: IIRM, 526530), the holding company of a group of companies engaged in asset protection, risk advisory, employees’ wellbeing solutions and insurance distribution across India, Singapore, Sri Lanka, Maldives, and Kenya, is raising ₹1500 million through a combination of Equity Shares and Fully Convertible Warrants at a Price of Rs 143.28. The issue is subject to the approval of the shareholders of the Company and such other statutory, regulatory and governmental approvals, permissions, consents and sanctions as may be required.

The investment is being led by Carpediem Capital and Sanshi Fund - I.

The capital raised will support the Company’s funding requirements for, among other stated objects, business expansion, strategic investments like acquisitions, capital expenditure, working capital, etc.

The flagship company in the group - India Insure Risk Management and Insurance Broking Services Private Limited, is the first Licensed Insurance Broking company in India and has been a key player in the Indian Insurance Industry since 2003.

“This investment endorses IIRM’s vision and growth trajectory. With Carpediem Capital and Sanshi Fund - I as partners, we are well positioned to accelerate expansion, pursue strategic acquisitions and strengthen our leadership in insurance and risk management.” — Ramakrishna V, Chairman, IIRM Holdings India Ltd

In FY26, IIRM Holdings handled business volumes (GWP) in excess of ₹16 billion, 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.

Organic expansion and disciplined acquisitions remain central to IIRM’s strategy. The Group is in the process of consolidating multiple insurance brokers in India and overseas.

“IIRM has built a high-quality, scalable platform in a large, underpenetrated market. Industry is poised for a consolidation play with many small to mid-sized players, and we believe IIRM is well positioned to be among the front runners in this space.” — Hithendra Ramachandran, Co-Founder & MD, Carpediem Capital

“IIRM’s strong fundamentals, experienced management and clear direction make it a compelling growth story. We are delighted to support its journey as a leading regional insurance distribution group.” — Saranya Agarwal, Founder, Sanshi Fund - I