REL to invest over Rs 100 cr in broking, housing finance business

REL has four key businesses Religare Finvest Limited (RFL) for SME finance, Care Health Insurance Limited (CHIL) - health insurance, Religare Broking Ltd (RBL) and Religare Housing Development Finance

Religare Enterprises plans to invest over Rs 100 crore in the housing finance business and the broking unit out of Rs 570 crore of equity capital it will raise from investors, including the Burman family.

The broking venture, with a focus on the retail segment, will grow organically and also look at inorganic opportunities, REL Chairperson Rashmi Saluja said.

The board of directors on June 8, 2021, approved raising of funds to the tune of Rs 570 crore by preferential allotment of 54.15 million equity shares at a price of Rs 105.25 per share.

Axis Capital is acting as a sole advisor to