Religare raises stake in Vistaar Religare Capital
Financial services provider Religare Enterprises Ltd (REL) today said it has hiked its stake in Vistaar Religare Capital Advisors (VRCAL) to 74 per cent for an undisclosed amount.
Earlier, REL held 50 per cent stake in VRCAL.
The company stated in a release that it has acquired an additional 24 per cent stake of Vistaar Entertainment Ventures Private Ltd (VEVPL), in their equal joint venture company Vistaar Religare Capital Advisors Ltd (VRCAL).
Post acquisition, REL will hold a 74 per cent stake in the joint venture, while VEVPL will hold 26 per cent.
It should be noted that last year, REL had entered into a 50:50 joint venture agreement with film production company VEVPL, to launch its first film fund in the country with a corpus of Rs 200 crore.