Religare Enterprises’ arm to default on Rs 100 crore NCD payment obligation

15 Apr 2021 Evaluate

Religare Enterprises’ arm Religare Finvest will default on Rs 100 crore NCD payment obligation later this month to subscriber Axis Bank due to financial distress caused by misappropriation of funds by former promoters and officials.

NBFC firm Religare Finvest (RFL) had borrowed Rs 100 crore from Axis Bank by placing non-convertible debentures (NCDs) on a private placement basis in September 2015. The bonds, bearing a coupon of 10.68 per cent per annum, are set for maturity on April 30, 2021.

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

209.35 -2.75 (-1.30%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Bajaj Finserv 1643.05
Paul Merchants 900.05
Data Infrastructure 100.00
IIFL Finance 339.95
Embassy Office Parks 367.00
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