New Delhi, Aug. 3 -- IIRM Holdings India, which invests in insurance risk management and broking services, has raised Rs 150 crore (around $15.7 million) led by private equity firm Carpediem Capital and small and medium enterprises-focussed alternative investment fund (AIF) Sanshi Fund - I.
The company has raised the capital through a combination of equity shares and fully convertible warrants at Rs 143.3 apiece, according to a press note. The fundraise is subject to shareholder and regulatory approvals.
Carpedium Capital has invested the larger portion of Rs 111.5 crore in this round.
IIRM Holdings said that it will utilise these funds to support business expansion, strategic acquisitions, capital expenditure and working capital requirements.
"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 said.
The Hyderabad-based IIRM Holdings is a BSE-listed holding entity 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. The company's gross written premium has surpassed Rs 1,600 crore in FY26.
The company said it is serves around 2,000 corporate clients, 100,000 retail customers and over 100 reinsurer partner relationships across the globe.
The flagship entity India Insure Risk Management and Insurance Broking deals in various segments such as property and engineering insurance, employee benefits, liability insurance and reinsurance broking.
IIRM Holdings said it will focus on organic expansion and disciplined acquisitions going ahead. The group is in the process of consolidating multiple insurance brokers in India and overseas.
Earlier this year, the group announced the acquisition of Safe Risk Insurance Brokers Private Limited through the wholly owned subsidiary, India Insure Risk Management and Insurance Broking Services.
Last year, the group disclosed that it has completed the merger with another wholly-owned subsidiary Sampada Business Solutions.
Published by HT Digital Content Services with permission from VC Circle.