New India Assurance invests in Bima Sugam federation

The New India Assurance Company (NIACL) has announced an investment in Bima Sugam India Federation, a Section 8 company, via private placement. The disclosure, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, details the acquisition of equity shares in two tranches. The first tranche, completed on November 7, 2024, involved 10,000 equity shares at par value of Rs. 10 each, amounting to Rs. 100,000. The second tranche, completed on March 6, 2025, consisted of 49,90,000 equity shares at Rs. 10 each, totaling Rs. 4,99,00,000. Bima Sugam is designed to act as a one-stop digital platform for insurance products, allowing customers to buy policies and settle claims under IRDAI regulation. NIACL's stock code is BSE:NIACL.