Religare Enterprises to raise over Rs 916 crore

Diversified firm Religare Enterprises will raise over Rs 916.42 crore by issuing warrants convertible to equity.
The Investment, Borrowing and Share Allotment Committee of the company at its meeting held today approved raising of funds through issue of warrants on preferential basis, the company said in a regulatory filing.
Religare will issue up to 175,559,960 warrants of Rs 52.20 each exercisable into equal number of equity shares on a preferential basis, amounting up to Rs 9,164,229,912, it said.
The allotment of warrants is subject to approval from members of the company in the extra-ordinary general meeting on March 19.
Stock of the company closed 4.90 per cent up at Rs 63.15 on BSE.