Mumbai, 01st August, 2026: 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 permissions, consents, and sanctions as may be required. The investment is being led by Carpediem Capital and Sanshi Fund – I.
Use of Proceeds
The capital raised will be deployed to:
- Support business expansion.
- Pursue strategic acquisitions.
- Fund capital expenditure.
- Strengthen working capital requirements.
Group Legacy and Leadership
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.
Ramakrishna V, Chairman, IIRM Holdings India Ltd, said: “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.”
Business Scale and Reach
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.
- Employing 500+ professionals.
- 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.
Hithendra Ramachandran, Co-Founder & MD, Carpediem Capital: “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.”
Saranya Agarwal, Founder, Sanshi Fund – I: “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.”
Strategic Outlook
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, employee wellbeing solutions, and insurance distribution across India, Singapore, Sri Lanka, Maldives, and Kenya.
- With over 25 years of experience.
- Employing 500+ professionals.
- Managing an annual premium of USD 195 million.
- Delivering insurance and risk advisory solutions to corporate and retail clients through technology and strong partnerships.
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. Led by Saranya Agrawal & Chintan Desai, the fund focuses on public and private equity investments in SMEs and growth-stage companies, supported by a strong team.
