Ind-Ra assigns IND A/Stable' to the proposed Subordinate Debt issue of Religare Enterprises' arm; Stock climbs ~2%

17 Mar 2022 , 10:45 AM

India Ratings & Research, a Fitch Group Company (Ind-Ra), while affirming the earlier Long-term Issuer Rating of ‘IND A/Stable’ has further assigned the rating of ‘IND A/Stable’ to the proposed Subordinate Debt issue of upto Rs1.5 billion by Care Health Insurance Limited (formerly known as Religare Health Insurance Company Limited), material subsidiary of Religare Enterprises Limited, on March 15, 2022.

At around 10.48 am, Religare Enterprises Ltd was trading at Rs114.90 per piece up by Rs2 or 1.77% from its previous closing of Rs112.90 per piece on the BSE.

The scrip opened at Rs115.50 and has touched a high and low of Rs116.65 and Rs113.95 respectively.