IIRM Global converts ₹34.78 Cr loan into equity

IIRM Holdings India Ltd announces that its wholly-owned subsidiary, IIRM Global Shared Services Private Limited, has approved the allotment of 29,98,385 equity shares to IIRM Holdings India Limited. This allotment is pursuant to the conversion of an existing unsecured loan of ₹34.78 crores. The shares are issued at a price of ₹116 each, comprising a face value of ₹5 and securities premium of ₹111. The conversion strengthens IIRM Global's capital structure and facilitates its business growth. The transaction is a related party transaction but is conducted on an arm's length basis, with no change in IIRM Holdings' shareholding or control over its subsidiary.