Religare Enterprises has received an approval to 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 on February 19, 2018 has approved raising of funds through issue of warrants on preferential basis.
The company 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.
Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.