NEW DELHI : Religare Enterprises Ltd is set to raise ₹300 crore through a rights issue to grow its health insurance business, said Rashmi Saluja, executive chairperson. “REL is committed to fully subscribe to its share as a promoter and as a principal shareholder.
Equity of ₹567 crore had already been raised from Kedara Capital in 2020, which included primary infusion in Care Health Business, which has been growing at the rate of 40% per annum," Saluja said in an interview.
It had also raised ₹570 crore via a preferential issue in July 2021 from long-term marquee investors. The firm invested the money in various verticals to grow its broking business as well as housing. “Funds have also been set aside for one-time settlement with the bankers for its NBFC unit.