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International

HDFC Ergo raises more than $50 million to fuel expansion

January 16, 2017 Reprints

India-based HDFC Ergo General Insurance Co. Ltd. has raised 3.5 billion Indian rupees ($51 million) through the issue of non-convertible debentures, The Economic Times reported. Samir Shah, chief financial officer of HDFC Ergo, said that the funds will be used for business growth and strengthening the company’s solvency margin. The investors in the NCDs include General Insurance Corporation of India and German insurer Ergo Group A.G.

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HDFC Ergo raises more than $50 million to fuel expansion

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