Cholamandalam MS General Insurance has raised additional capital of Rs 75 crore through rights issue to support its future business growth.
Post-infusion from promoters, the capital base has increased to Rs 510.9 crore now, the company said in a statement.
The general insurance firm also said it aims to achieve around Rs 2,000 crore gross written premium in the current year.
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The company had reported a gross written premium of Rs 906 crore during the April-September period of this fiscal.
Chola MS General Insurance is a joint venture between Murugappa Group and Japan-based Mitsui Sumitomo Insurance Company.