 "cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings")
Religare Enterprises Ltd (REL) plans entering the asset reconstruction business and make a qualified institutional placement (QIP) to raise Rs 600-700 crore for new businesses, said its leader on Thursday.
The Delhi-based financial services group expects to resume lending by Religare Finvest Ltd (RFL), a wholly-owned subsidiary, after paying the last tranche of Rs 400 crore to lenders under a one time settlement (OTS) agreement signed in December 2022. RFL’s estimated time for coming out of the corrective action plan (CAP) is about a month after which the non-banking financial company would lend to the MSME segment.
REL stock closed 2.4 per
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