Religare Enterprises, the holding company of financial services conglomerate Religare Group, has received an approval for $75 million amounting about Rs 400 crore investments by the International Finance Corporation (IFC) through preferential allotment.
The board at its meeting held on September 29, 2012 has approval for the same and the transaction is subject to customary documentation and approvals.
IFC is part of the World Bank group and acts mostly as the private sector lending arm of the multi-lateral institution.
Religare Enterprises (REL) is the holding company for one of India’s leading diversified financial services groups. REL offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
