Religare Enterprises’ subsidiary - Religare Finvest (RFL), one of India’s largest capitalized NBFCs is planning to sell 5% stake to private equity firm Jacob Dallas. The amount from stake sale is expected to help the company in meeting its growing capital requirements.
Religare Finvest provides debt capital to MSMEs (micro, small and medium enterprises) in form of loans against property, working capital loans, loans against plant and machinery, vehicles and construction equipments and loan against marketable securities, among others.
Earlier in November, RFL received Rs 150 crore from Avigo Capital. Avigo Capital completed an investment of Rs 150 crore in the form of compulsory convertible preference shares.
Religare Enterprises (REL) is engaged in providing financial products and services. REL provides services across three segments namely retail, institutional and wealth.
