IIRM Holdings India Ltd, the holding company of a leading insurance distribution and risk advisory group with operations across India, Singapore, Sri Lanka, the Maldives and Kenya, today announced a ₹1,500 million strategic capital raise through a combination of Equity Shares and Fully Convertible Warrants at a price of ₹143.28 per security, subject to shareholder and regulatory approvals. 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 proceeds will be used to support business expansion, strategic acquisitions, capital expenditure and working capital requirements
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.” said, 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.” said , 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.”,said Saranya Agarwal, Founder, Sanshi Fund – I
The capital raise comes as IIRM accelerates its expansion strategy amid increasing demand for insurance distribution, risk advisory and employee wellbeing solutions across Asia and other high-growth markets.
About IIRM Holdings
IIRM Holdings India Ltd is a Hyderabad-based, BSE-listed 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. Through technology and strong partnerships, the group delivers insurance and risk advisory solutions to corporate and retail clients. With over 25 years of experience and 500+ employees, the company manages an annual premium of USD 195 million.
About Carpediem Capital
Carpediem Capital is a mid-market Indian private equity firm focused on helping emerging companies in the consumption and services economy become leaders of tomorrow.
About Sanshi Fund – I
Sanshi Fund – I is a Category III Alternative Investment Fund (AIF) based in Mumbai. Sanshi Fund – I is led by Saranya Agrawal & Chintan Desai and supported by a strong team. It focuses on public and private equity investments in small and medium-sized enterprises (SMEs) and growth-stage companies.
