News Update
Shriram Group eyes onboarding new investors for Insurance Business
-
ByTejika Bajaj | December 31, 2021
The Shriram Group has recently revealed its plans to onboard new investors for its life and general insurance business. The company revealed that it plans to bring KKR as a new investor for its insurance business.
In its official statement, the Shriram Group expressed that the insurance business would be a major focus segment for the group in the coming decade and that an investment in the same would allow the group to increase the shareholding of the segment.
Talking about the plans of the giant, the Managing Director, Transport and Finance Company of Shriram Group, Umesh Revankar said, “Both our general and life insurance companies are doing well and are profitable. They don’t need any capital per se. But what we felt was bringing in new investors will enable price discovery of the business, and if we go for listing, having a private equity investor will help.”
Initiated with a muted capital of INR 250 crore, the Shriram General Insurance Company is headquartered in Jaipur and has disbursed more than INR 1000 crore worth dividend within the past ten years to its investors. As of now, the company has an investor portfolio of Shriram Capital which holds 76.63 per cent of the stake, Sanlam Emerging Markets Ltd holding 22.92 per cent stake and the remaining is held by the public.
Sources reveal that the group is likely to finalize the deal of onboarding KKR as an investor for the insurance segment in the coming days.
Also Read
-
-
Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
Follow Startup Story
