Religare Enterprises Board okays to raise Rs 800 cr

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Religare Enterprises Board okays to raise Rs 800 cr
Religare Enterprises Ltd. said its board approved raising of funds up to Rs.800 crore, with an option increase the issue size up to ten percent, through issuance of equity shares on rights basis to the existing shareholders of the company.

The board also constituted a Committee of Directors to consider and approve specific aspects in relation to this matter.

The other terms of the issue including but not limited to size of the issue, Record Date, Pricing, Ratio will be decided by the Committee in due course in consultation with the intermediaries involved in the process.

At the BSE, Religare Enterprises shares are being traded at Rs.486, up by 0.67 percent from the previous close.

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