The Hyderabad-based GMR Technologies and Industries Ltd is planning to invest Rs 24 crore more in the equity capital of ING Vysya Life Insurance Company Pvt Ltd.
ING Vysya Life is an insurance joint venture promoted by the Netherlands-based ING Insurance BV, ING Vysya Bank and GMR Technologies.
So far GMR Technologies has invested Rs 96 crore in the insurance venture and holds a 24 per cent stake. The other two partners hold 26 per cent and 49 per cent, respectively.
The proposed investment is to maintain the 24 per cent stake, as the insurance company has plans to expand the equity base, said a top official of GMR Technologies.
