Religare Enterprises has completed the transaction with Kedaara group entity, Trishikhar Ventures LLP for investments in its health insurance subsidiary Religare Health Insurance Company (RHICL). This transaction will further the growth of the health insurance business for Religare and help RHICL to emerge as a stronger insurance player. The equity infusion is in sync with the long-term vision of the Company to be future-focused, explore its full potential and accelerate growth.
The total investment made by Kedaara to acquire shares of RHICL is Rs 567.31 crore which comprises of primary capital infusion of Rs 300 crore and Rs 267.31 crore for the purchase of RHICL shares from existing shareholders, including purchase of 6.39% stake from the Company against a consideration of Rs 200 crore Following these transactions, the shareholding of the Company in RHICL now stands at 72.02% on a paid up capital basis.
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.