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Religare Health Insurance looking to raise capital: Reports

The non-life insurer is planning to raise about Rs.200 crore in lieu of a minority stake

April 03, 2014 3:44 IST | India Infoline News Service
Religare Health Insurance is in discussions with global investors including LeapFrog Investments, General Atlantic, TPG Capital to raise funds, according to a media report.
The non-life insurer is planning to raise about Rs.200 crore in lieu of a minority stake, the report added.
According to the department of industrial policy and promotion, there is a 26% cap on overseas investments in insurance companies which would include foreign direct investment (FDI), foreign institutional investor (FII) investments and investments from non-resident Indians (NRIs).
Many private insurers have demanded that India raise the FDI cap to 49%, but a draft law that proposes the change is still to be approved by Parliament.


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