The Hindu Business Line : Religare Enterprises files for initial public offering

Mumbai, July 2 Religare Enterprises Ltd, a Ranbaxy promoter group company and also a financial services company, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to enter the capital market with its initial public offering of equity shares.

The company proposes to issue 11,364,152 equity shares of Rs 10 each for cash, at a price to be decided through a 100 per cent book building process.

The shares, are proposed to be listed on the BSE and the NSE.

The company may issue up to 37,88,050 equity shares to certain investors including persons resident outside India, prior to filing of the red herring prospectus.

If the pre-IPO placement is completed, the number of equity shares issued pursuant to the pre-IPO placement, will be reduced from the Issue, subject to a minimum Issue size of 10 per cent of the post-issue share capital.

The issue will constitute15 per cent of the post-issue capital of the company. The objective of the issue is to fuel the future growth plans of the company.

The book running lead managers issue are Enam Financial Consultants Private Ltd and Citigroup Global Markets India Private Ltd.

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Religare Enterprises files for initial public offering