Religare Enterprises, the financial services arm of Ranbaxy Group, is planning to rise more than Rs 1,000 crore through rights offering to its existing shareholders.

The company's board is expected to meet on 30th October to consider raising of funds over Rs 1,000 crore at around current price level by further issue of equity shares on rights basis.

Religare Enterprise Limited, through its subsidiaries, offers a range of financial products and services to retail investors, high net worth individuals, and corporate and institutional clients in India.

The company operates in three divisions: Retail Spectrum, Wealth Spectrum, and Institutional Spectrum.

Shares of the company gained Rs 0.25, or 0.08%, to settle at Rs 325. The total volume of shares traded was 1493 at the BSE. The stock had a 52-week high of Rs 729 on 2 January 2008 and a 52-week low of Rs 300 on 28 October 2008.