Religare Shares Surge Over 7 Per cent on Reports of Takeover

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Shares of financial services firm Religare Enterprises rose sharply by over 7 per cent today amid reports of possible takeover of the company.

Following the buzz, shares of the company went up by 7.25 per cent to Rs 340.20 at the BSE. On NSE, it gained 6.77 per cent to Rs 342.

Religare Shares Surge Over 7 Per cent on Reports of Takeover
Religare Enterprises: Quotes, News
BSE 52.20BSE Quote2.7 (5.17%)
NSE 52.25NSE Quote2.7 (5.17%)

According to media reports, private equity groups Apollo Global Management and Baring Asia have emerged as the two frontrunners to take over Religare Enterprises.

Meanwhile, the BSE has sought clarification from Religare Enterprises with reference to the news that Apollo and Baring are ahead in race for Religare.

The total promoter holding in the company currently stands at 64.33 per cent as per the March shareholding pattern. In the broader market, the BSE Sensex was trading flat at 28,023.42 points. 


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