Religare Enterprises has entered into supplemental agreement on January 11, 2018 extending the Share Purchase Agreement dated April 09, 2017, entered into by the company with a consortium of investors led by True North (formerly India Value Fund) for divesting its entire stake in Religare Health Insurance Company (RHI). The transaction is expected to be completed in accordance with the terms and conditions of the Share Purchase Agreement and the Supplemental Agreement. Further, on account of delay in completion, the expected value of the company has been revised upwards to Rs 1,350 crore. The transaction is subject to necessary regulatory and other approvals.
Earlier in April, the company had entered into a definitive agreement with a consortium of investors led by True North (formerly India Value Fund) to buy out its entire stake in Religare Health Insurance Company (RHI). The consortium includes domestic investors such as Gaurav Dalmia and Faering Capital. JP Morgan acted as the exclusive financial advisor to Religare Enterprises on this transaction.
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.
