Religare Enterprises entered into a supplemental agreement, extending share purchase agreement with True North, for divesting its entire stake in Religare Health Insurance Company.
The transaction is expected to necessary regulatory and other approvals.
The expected value of the company has been revised upwards to Rs 1,350 crore.
The stock was up by 2% at Rs. 64.
The stock has hit a high of Rs. 65 and a low of Rs. 64.
Religare Enterprises Limited (REL) is the holding company for one of India’s leading diversified financial services groups. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, Affordable Housing Finance, Health Insurance and Capital Markets. REL is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.