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Religare Enterprises Ltd Announces Dilution of Stake By Promoters

Tuesday, 18 Jun 2013 06:24am EDT 

Religare Enterprises Ltd announced that with reference to the earlier announcement dated May 23, 2013, regarding Outcome of Board Meeting, the Company has informed that as per the request made by the Company's Board in the Board Meeting held on the May 23, 2013, Promoters have agreed to dilute their shareholding to 49% in the Company to enable Religare Enterprises Ltd to qualify for applying for banking license under Guidelines for Licensing of New Banks in the Private Sector on its website on February 22, 2013. Further, Promoters have appointed Axis Capital Ltd as advisors for proposed stake sale. 

Company Quote

-3.1 -0.96%
5:19am EST