Religare Enterprises is offloading its entire stake in NBFC arm Religare Finvest (RFL) to TCG Advisory Services for around Rs 330 crore. The company is divesting its entire stake in RFL for Rs 330 crore. The transaction is subject to receipt of statutory and regulatory approvals and fulfillment of other conditions. It is expected to complete before December 31, 2019.
The company in July 2019 had signed a binding term sheet with TCG Advisory Services to sell its NBFC and housing finance businesses.
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.
