Religare Enterprises acquires 100% equity shares of Shreyas

Religare Enterprises has acquired 100% equity shares of Chennai based entities - Shreyas Stocks and Shreyas Advisory Services (Shreyas). Pursuant to the said acquisition, Shreyas has become wholly owned subsidiary of the company with effect from on October 12, 2011.

Recently, the company reaffirming its goal of setting up a banking platform in India had formed an Advisory Panel, a day after the Reserve Bank of India (RBI) announced draft guidelines for issuing licenses for new banks in the private sector.

Religare Enterprises (REL) is engaged in providing financial products and services. REL provides services across three segments namely retail, institutional and wealth.