Religare Enterprises Limited has informed the Exchange regarding Outcome of Board Meeting held on July 11, 2025.
RELIGARE · price
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Religare Enterprises' board, at its meeting on July 11, 2025, approved a capital raise of up to ~₹1,500 crores through a preferential issue of up to 6,38,29,782 convertible warrants at ₹235 each (including a ₹225 premium over the ₹10 face value). Each warrant can be converted into one fully paid equity share within 18 months from allotment. The promoter group will contribute 50% of the raise (~₹750 crores), with the remaining amount coming from 11 proposed allottees including M.B. Finmart, Puran Associates, JM Financial Credit Solutions, Hindustan Times Limited, and individual investors. The company has called an extraordinary general meeting (EGM) on August 8, 2025, to seek shareholder approval for the issue. Axis Capital acted as the financial advisor, and the funds will be used to scale core businesses across SME lending, affordable housing finance, health insurance, and retail broking.
The preferential issue will result in equity dilution once warrants are converted, which may pressure the stock in the short term. However, the 50% promoter contribution signals strong insider confidence, and the capital infusion could support growth and strategic expansion across Religare's financial services verticals over the medium to long term.