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Religare Enterprises rises on entering into supplemental agreement for sale of RHI

15 Jan 2018 Evaluate

Religare Enterprises is currently trading at Rs. 64.30, up by 1.10 points or 1.74% from its previous closing of Rs. 63.20 on the BSE.

The scrip opened at Rs. 65.60 and has touched a high and low of Rs. 65.60 and Rs. 64.05 respectively. So far 53,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 259.50 on 20-Jan-2017 and a 52 week low of Rs. 34.25 on 28-Sep-2017.

Last one week high and low of the scrip stood at Rs. 69.35 and Rs. 62.50 respectively. The current market cap of the company is Rs. 1,147.00 crore.

The promoters holding in the company stood at 25.33%, while Institutions and Non-Institutions held 28.27% and 46.40% respectively.

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.


Religare Enterprises Share Price

223.60 3.20 (1.45%)
17-Apr-2026 16:59 View Price Chart
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