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IIRM Holdings has converted an existing unsecured loan of about Rs. 11.94 crore given to its wholly owned subsidiary, India Insure Risk Management and Insurance Broking Services Pvt. Ltd., into equity. The subsidiary's board allotted 1,06,104 fully paid-up equity shares to IIRM Holdings at Rs. 1,125 per share (face value Rs. 10, premium Rs. 1,115). This is an internal capital restructuring within the group, with no change in ownership since India Insure remains wholly owned by IIRM Holdings.
This is an internal transaction between the parent and its wholly owned subsidiary, so there is no material impact on shareholders, share count of IIRM Holdings, or stock price. It simply replaces debt with equity on the subsidiary's books, potentially strengthening its capital base.