Religare Enterprises surges as its NBFC arm plans to mop up Rs 500 crore

Religare Enterprises Ltd. | Finance - Investment | BFSI | BSE: 532915 | NSE: RELIGARE

29 Aug 2012 Evaluate

Religare Enterprises is currently trading at Rs. 331.00, up by 5.95 points or 1.83% from its previous closing of Rs. 325.05 on the BSE.

The scrip opened at Rs. 325.25 and has touched a high and low of Rs. 338.00 and Rs. 325.25 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 451.90 on 30-Aug-2011 and a 52 week low of Rs. 321.05 on 21-Jun-2012.

Last one week high and low of the scrip stood at Rs. 338.00 and Rs. 325.00 respectively. The current market cap of the company is Rs. 4944.39 crore.

The promoters holding in the company stood at 71.77% while Institutions and Non-Institutions held 2.63% and 25.60% respectively.

In a bid to support its financing activities, Religare Enterprises’ wholly-owned NBFC subsidiary Religare Finvest is planning to mop up Rs 500 crore through retail issuance of non-convertible debentures (NCDs). The company will raise NCDs collectively up to Rs 250 crore with an option to raise another Rs 250 crore in case of over-subscription.

The fund from issue will be used for the company’s various financing activities, including lending and investments. Moreover, some part of proceed will also be used to pay back the existing debt of the company and to meet its capital expenditure and working capital requirements.

Religare Finvest offers debt capital to SMEs in the form of loans against property, working capital loans, loans against plant and machinery, vehicles and construction equipment and loan against marketable securities among others.

Religare Enterprises Share Price

220.85 -2.55 (-1.14%)

08-May-2026 16:59 View Price Chart

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