Hyderabad, July 31 -- Hyderabad-based IIRM Holdings India Ltd on Friday announced plans to raise Rs 1,500 million through a combination of equity shares and fully convertible warrants to support business expansion, strategic acquisitions, capital expenditure and working capital requirements.
The proposed fund raise, priced at Rs 143.28 per share, will be led by Carpediem Capital and Sanshi Fund-I, subject to the approval of shareholders and other statutory and regulatory clearances.
In a statement, IIRM Holdings Chairman Ramakrishna V said the investment reflected investor confidence in the company's growth strategy and would help accelerate expansion, pursue strategic acquisitions and strengthen its leadership position in the insurance a...