Religare Enterprises to enter new business segments; Stock gains 2%

25 Mar 2022 , 09:31 AM

Religare Enterprises Limited is entering into new business segments (i.e. Debt Management Services, Asset Reconstruction, Insurance Broking & Alternate Investment Fund).

The company informed the exchanges that the Board of Directors in its meeting held on March 24, 2022, in order to expand the financial services footprint with an objective to ensure that the Company and the Group are able to take advantage of the favorable market conditions and become a 360 degree financial services conglomerate; leveraging its existing business strengths, has approved entering into new business segments (i.e. Debt Management Services, Asset Reconstruction, Insurance Broking & Alternate Investment Fund), subject to requisite regulatory approvals as may be applicable.

At around 9.35 am, Religare Enterprises Ltd was trading at Rs113.30 per piece up by Rs2.3 or 2.07% from its previous closing of Rs111 per piece on the BSE.