With reference to the earlier letter announcement dated July 29, 2016, Religare Enterprises has now informed that RGAM Investment Advisers, a wholly-owned subsidiary of the Company, has entered into definitive agreements on January 05, 2017 for the divestment of its stake in its wholly-owned subsidiary, Cerestra Advisors, with (i) TCP-Cerestra, a company registered under the laws of Cayman Islands; [ii] Cerestra Managers, a company registered under the laws of India; and (iii) Elephant India Finance, a Company registered under the laws of India. The transaction is expected to be closed by February 28, 2017 following the receipt of all required regulatory approvals.
The above information is a part of company’s filings submitted to BSE.
