With reference to the earlier letter dated October 26, 2016, wherein the board of Directors of the Company had approved the transaction to acquire the remaining 24.82% stake in Religare Arts Initiative Limited (‘RAIL’) from the minority shareholder of RAIL. Religare Enterprises has now informed that said transaction is closed. Now, RAIL is wholly owned subsidiary of the Company.
The above information is a part of company’s filings submitted to BSE.