IIRM Holdings India Ltd Share Price

History of IIRM Holdings India Ltd

IIRM Holdings India Limited was formerly incorporated in the name of 'Sudev Industries Limited' on 20th April, 1992. Name of the Company was changed to IIRM Holdings India Limited from Sudev Industries Limited w.e.f October 18, 2023. The Company was established under the leadership of Shri. Rajiv Agarwal, who is the founder of this organization and Late Shri O.P. Agarwal being a Co-promoter. IIRM Holdings Group Companies specialises in distributing a wide range of insurance products across India, Singapore, Sri Lanka, Maldives, and Nepal. Their core business verticals include commercial lines, reinsurance, personal lines, and consultancy services, providing robust solutions for both corporate and retail clients. The Company is primarily engaged in the business of Professional and Consul ...tancy services. The Company went for a public issue of its equity shares on 23 May, 1994 for 30,00,000 Equity shares of Rs. 10/- each and got the shares listed on the respective stock exchanges. Thereafter, the Company had setup its manufacturing facilties at Sikandrabad, Uttar Pradesh to manufacture Plastics, lkathene, Natural And Synthetic Rubber Moulded Goods, Foams, etc.i.e. basically to manufacture rubber and plastics products. It was the First time in India that Sudev Industries Limited had organized and developed its organizational units on the basis of effective Foaming Technology to manufacture rotomoulded products to better strengthening its weight ratio and super Insulting process. Also, the Company had made foreign Technical Collaboration with M/s T&D Rotomoulding Division of 'Tanks and Drums Group' of U.K. Agreement which was entered covered the areas of business following Know how relating to setting up and manufacture of Rotational Mouldings; Technical data relating to products, materials, tools, metalwork; and Buy Back of the contracted products. Their Services also include know-how for manufacture of non-conventional products using high performance thermo-plastics, thermo sets and reinforced fibers for which the technical know-how was not available in the country. The Company entered the personal lines distribution market in FY 2021. It commenced business operations of IRM Kenya Insurance Brokers, marking its latest expansion into the African market in FY23. The Company acquired 99.93% stake of equity shares in Sampada Business Solutions Limited on January 18, 2024.