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.