Religare Enterprises’ (REL) wholly-owned subsidiary - RGAM Investment Advisers has executed a binding term sheet to divest its stake in Religare Portfolio Managers and Advisors (RPMA). The closing of the transaction is subject to customary conditions including necessary regulatory approval processes.
RPMA has reported a revenue of Rs 4.25 crore in FY 2014-15 and its net worth as at March 31, 2015 was Rs 5.88 crore, translating to approximately 0.10% of consolidated revenue and approximately 0.15% of consolidated net worth of REL for the year ended/as at March 31, 2015.
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.
