EGM Okays Preferential Share Issue

Funds will be used towards growth of businesses, Religare  Executive Chairperson Dr. Rashmi Saluja said

NEW DELHI, July 8 (The CONNECT) – The shareholders of Religare Enterprises Limited (REL) approved the Rs. 570 crores preferential issue of fresh equity shares of the Company. A special resolution to this effect has been passed in the company’s Extraordinary General Meeting held on July 03.

Earlier the Board of Directors of the Company had approved raising of funds to the tune of Rs. 570 crore through preferential allotment of 5,41,56,761 equity shares at a price of Rs. 105.25 apiece to the existing shareholders like Burman family & Ares SSG Capital and selected new marquee investors. 

“We are well on our path of revival and would use these funds towards growth of our businesses. Today again, I am thankful to our shareholders and investors, who demonstrated their trust in Company by passing the special resolution with resounding majority” Religare Enterprise’s Executive Chairperson Dr. Rashmi Saluja said.