Religare Enterprises Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding Religare Housing Development Finance Corporation Limited, a step-down Subsidiary of Religare Enterprises Limited ( REL / the Company )'.
RELIGARE · price
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CARE Ratings has upgraded the credit rating of RHDFCL's proposed long-term bank facilities of ₹500 crore from CARE BB+; Stable to CARE BBB-; Stable. The upgrade follows the classification of the Burman Group as the ultimate promoter of Religare Enterprises (holding 25.83% as of June 30, 2025, expected to rise above 26% post a ₹1,500 crore warrant issue where Burman Group is putting in ₹750 crore, with ₹250 crore earmarked for RHDFCL). The RBI also withdrew the Corrective Action Plan conditions on RHDFCL's parent, Religare Finvest Limited, on July 23, 2025. RHDFCL has nil debt and a strong capital adequacy ratio of 140.09%, but its AUM shrunk to ₹250.5 crore in FY25 and it posted a net loss of ₹12.7 crore, with GNPA at 3.6% (improved from 4.3%).
This is a positive signal for Religare Enterprises shareholders, as the rating upgrade reflects improving financial flexibility for RHDFCL under the new Burman Group promoter and post-RBI relief on its parent. Easier access to debt funding could support growth, though weak profitability and small scale of the housing finance arm remain watchpoints.