Business Standard

Monday, December 23, 2024 | 01:10 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Religare Enterprises to raise Rs 570 crore from preferential issue

Burman family, SSG & new investors to chip in

markets, stock market, m-cap, market capitalisation, sensex, correction, nifty, shares, growth, profit, economy, gain
Premium

The above shall be subject to all requisite permissions, sanctions, and approvals as may be necessary, REL said

Abhijit Lele Mumbai
Religare Enterprises Ltd (REL) will raise in capital of Rs 570 crore through preferential issue of equity shares to existing shareholders like Burman family, Ares SSG Capital and selected new marquee investors. The funds will be used to grow businesses including lending and health insurance.

The board of directors has approved the 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/share. Its stock closed 2.4 per cent higher at Rs 146.5 per share on BSE.

The funds raised would be primary utilised as growth capital

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in