Religare Enterprises' shareholders approve Rs 570 cr preferential issue
Mumbai
05-July-2021

Photo: IANS
Religare Enterprises shareholders have approved the company's plans for a preferential issue worth Rs 570 crore of equity.
Earlier, the Board of Directors of the Company, in a meeting held on June 8, had approved raising of funds to the tune of Rs 570 crore by preferential allotment of 5,41,56,761 equity shares of the company at a price of Rs 105.25 per share to existing shareholders like Burman family & Ares SSG Capital and selected new marquee investors.
"Post reclassification of erstwhile promoters as public shareholders, Religare Enterprises Ltd, truly stands as a company held by a diversified set of investors who have reposed their faith on an 'Independent Board' and 'Professional Management'," Religare Enterprise's Executive Chairperson Rashmi Saluja said.
"We are well on our path of revival and would use these funds towards growth of our businesses."
A diversified financial services company, REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities.-IANS
More Headlines
Rupee Symbol Debate Heats Up as Tamil Nadu Opts for ‘ரூ’
AIADMK Walks Out, BJP Boycotts Tamil Nadu Budget Session
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case
Rupee Symbol Debate Heats Up as Tamil Nadu Opts for ‘ரூ’
AIADMK Walks Out, BJP Boycotts Tamil Nadu Budget Session
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case