Announced Wed, 8 Jul · 21:24 IST
Religare invests about Rs 120 crore in Care Health Insurance rights issue
Business Updates View source PDF
RELIGARE · price
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AI summary
Religare Enterprises subscribed to its subsidiary Care Health Insurance's rights issue, receiving 74,80,324 shares at Rs 10 face value plus Rs 150 premium, totaling about Rs 119.68 crore. Care Health is a health insurer with over 277 branches and turnover rising from Rs 7,022 cr in FY24 to Rs 10,416 cr in FY26. Proceeds will fund expansion and meet statutory solvency needs. The transaction is a related party deal at arm's length.
Likely market impact
Capital infusion into key health insurance subsidiary supports growth and solvency; signals confidence in Care Health's expansion plans.