Religare Enterprises up on talk of promoter divesting stake

Shares of Religare Enterprises were up over 2% at Rs 374 on talk that the promoters plan to sell their stake in the company and several private equity players have evinced interest in buying their stake.

According to shareholding data on the BSE, the promoter and promoter group holds 50.93% stake in the company as on March 31, 2015.

Private equity firms such as Bain Capital, Baring Private Equity Asia and Multiples are among those seeking to acquire the stake, according to multiple sources, Economic Times reported.

However, the company has denied any plan of the promoters divesting their stake in the financial services flagship, the report added.

The stock opened at Rs 371 and touched a high of Rs 381. At 12:10PM, over 38,000 shares were traded on both the stock exchanges.