Religare Enterprises to list 3 separate entities
The Dollar Business Bureau Religare Enterprises Limited (REL) on Friday said it would reorganise its existing businesses into three separate entities with an aim to unlock value. According to the new arrangements, the company’s existing operating businesses- capital markets, health insurance and lending will now be listed as three separate entities. The REL Chairman and Managing Director Sunil Godhwani said that the proposed demerger will help unlock value of various businesses under the holding company. This will provide options to the investors also to fund in business of their choice. Over the past one year the company has taken a number of key steps to consolidate its portfolio and maintain a focused strategy in India. He emphasised on accelerating the growth momentum of ...
US firm to buy 100% share in its Indian joint venture
The Dollar Business Bureau The objective of the agreement is to serve the investment needs of domestic and global investors— individual, corporate and institutions – through mutual funds and sub- advised portfolio US-based asset management firm Invesco has decided to buy 100% share of its Indian joint venture with Religare Enterprise (REL). At present, Religare holds controlling 51% share in the joint venture, Religare Invesco Asset Management Company Private Limited (RIAMC), which has average asset base of more than Rs.21,593.51 crore. “We are very excited about the long term prospect of the important Indian market. Religare Invesco has a highly capable management team that understands the dynamic of this complex yet vibrant market,” said Andrew Lo, Senior Managing Director and ...
