IFC buys 8% stake in Religare Enterprises

India Infoline News Service | Mumbai |

Religare said the share allotment committee of Religare Enterprises on Tuesday allotted 1.28 crore equity shares of face value Rs. 10 each to IFC

International Finance Corporation has acquired around 8% stake in Religare Enterprises pursuant to the conversion of debentures into equity shares.

Religare said the share allotment committee of Religare Enterprises on Tuesday allotted 1.28 crore equity shares of face value Rs. 10 each to IFC pursuant to conversion of 40.18 lakh compulsorily convertible debentures of face value Rs. 1,000 each.

CCDs were allotted to IFC on November 07, 2012 at a conversion price of Rs. 315.85 per equity share in accordance with provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, Religare Enterprises said in a filing to BSE (Bombay Stock Exchange).

Post Allotment, Paid-up Equity Share Capital of the Company stands increased to Rs. 1.62 crore consisting of 16.24 crore equity shares of face value of Rs. 10 each.

Religare Enterprises operates as an integrated financial services company and through its subsidiaries has interests in brokerage, insurance, asset management, lending solutions, investment banking, wealth management and private equity.
 

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