Religare Enterprises

Religare Health Trust aiming to raise $417.9 million through Singapore IPO

Religare Health Trust aiming to raise $417.9 million through Singapore IPOReligare Health Trust of the Indian hospital chain operator Fortis Healthcare, is aiming to raise about $417.9 million through an Initial Public Offering at the Singapore Stock Exchange.

Religare will offer 567.46 million shares and it has set an IPO price of S$0.90 per share, according to the final prospectus filed by the company with the Monetary Authority of Singapore. The company will offer 555.46 million shares to institutional investors in Singapore and abroad and the remaining 12 million to the general public.

Invesco acquires 49% stake in Religare Mutual Fund for Rs 460 crore

ReligareInvestment management firm Invesco has purchased a 49 per cent stake in Religare Mutual Fund for nearly Rs 460 crore, subject to regulatory approval.

Religare Mutual Fund was created as a joint venture between Indian asset management firm Religare and Dutch financial services giant Aegon. But the Dutch firm sold its entire stake to the Indian firm and quitted the joint venture in 2009.

Religare promoters make open offer to shareholders

Religare promoters make open offer to shareholdersOn Wednesday, both the promoters of Religare Enterprises made an open offer to the shareholders of the company for buying shares. They offered top pay rupees 457 per share and are eyeing to take back 20 per cent stake in the financial firm.

If the buyback become successful then Malvinder Singh and Shivender Singh will be holding 85.13 per cent stake in the company.

The offer will open on October 13 and will close on November 1, said the filling of Religare with the BSE.

Citi sells part of its mortgage portfolio to Religare

Citi sells part of its mortgage portfolio to ReligareFinancial services firm Religare Enterprises has announced that it plans to get hold of Citigroup India's home loan portfolio at just Rs. 500 crore, i. e. five per cent of Citi's total mortgage book. The Citi group has also agreed on this fact and soon there will be a buyout deal between these two firms.

Religare Enterprises fourth quarter net profit at Rs. 31.7 cr.

Religare-EnterprisesFinancial services firm Religare Enterprises has announced it annual financial results for the year 2009-10. The company has managed to post an impressive fourth quarter net revenue and net profit.

As per the recent reports the company's consolidated net profit has touched Rs 31.7 crore for the fourth quarter ended on 31st March 2010.

Singh Brothers step down as Sunil Godwani becomes CMD of Religare

Singh Brothers step down as Sunil Godwani becomes CMD of ReligareMulti-interest financial services group Religare Enterprises restructured its top management, the company informed in a press meet on Tuesday. As per the announcement, the company has appointed Sunil Godwani as its new Chairman and Managing Director as present Chairman Malvinder Mohan Singh stepped down.

Malvinder’s brother Shivinder too stepped down today from his position as a member of Religare’s board. Sachindra Nath would be the new Chief Executive of the company, Religare’s press statement revealed.

Kandiah to head global equity division of Religare

religare-logoSutha Kandiah will become the head of global equity capital markets of Religare Capital Markets.

He would start work from June 2010, after his earlier obligations are over.

Kandiah is currently working as the joint head of equity capital market for Asia in UBS. He worked there for 10 years.

The news of Kandiah's appointment was revealed by Religare in an official statement. It was also told that Kandiah will be working from Singapore and will have to build a player which is both regional as well as international in its approach.

Religare plans to build a $1 billion asset management company

Religare plans to build a $1 billion asset management companyReligare Enterprises Ltd has announced that it will invest about $1 billion to acquire stakes in asset management firms in order to create a global company.

Religare will acquire majority stake in Northgate Capital LLC which has offices in San Francisco and London and manages assets worth $3 billion, according to the company statement.

US’ Northgate acquired by Religare for Rs. 1,000 cr

Sunil Godhwani Indian financial services major Religare has signed in a agreement to acquire 65% venture in California-based Northgate Capital which shall total to about $200 million or INR 1,000 crores.

CEO & MD Sunil Godhwani said in a statement, "The partnership will accelerate our process of seeking similar partnerships in other asset classes". This will make Religare to buy majority stake in the investment firm which was co-founded by former top-flight American sportsmen.

Religare Enterprises posts Q4 consolidated net loss of Rs 63.24 crore

Religare EnterprisesReligare Enterprises, a diversified financial services group of India, has reported a consolidated net loss of Rs 63.24 crore for the fourth quarter ended March 31, 2009.

The financial group had posted a net profit of Rs 21.92 crore in the same period ended March 2008.

Further, the company has reported a decline of 19% in its total income, which slipped to Rs 212.43 crore for the quarter ended March 31, 2009, from Rs 263.75 crore in the same period last year.




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