Stocks

Religare Enterprises to raise Rs 2,500 cr

Our Bureau New Delhi | Updated on March 14, 2011

Religare Enterprises Ltd (REL), an emerging markets financial services Group, has received shareholders' nod for raising capital upto Rs 2,500 crore. The company is, however, yet to firm up the capital raising route although an enabling resolution had been passed for this purpose at a recent meeting of its shareholders.

“We are currently evaluating multiple options of fund raising both in India and abroad. The purpose of the capital raise is to fund general expansion and growth plans of the company,” Mr. Shachindra Nath, Group Chief Executive Officer, REL, said.

Meanwhile, REL's shareholders have also given their nod for an increase in the size of the employee stock option pool from existing five per cent to 10 per cent of the fully diluted equity share capital of the company under the Religare Employee Stock Option Scheme, 2010. This would benefit both employees of the company and its subsidiary companies.

> krsrivats@thehindu.co.in

Published on March 14, 2011

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