Religare Enterprises Ltd and Invesco Limited have announced the completion of the transaction, naming Invesco as the joint venture partner in Reliager Asset Management. With the completion, the name of 'Religare Mutual Fund' has been changed to 'Religare Invesco Mutual Fund'.
On March 28, 2013, Invesco acquired 49% shareholding in Religare Asset Management Company Private Limited and Religare Trustee Company Private Limited and now acts as the co-sponsor of Religare Mutual Fund. The mutual fund schemes will also be renamed as per the name change.
Shares of Religare Enterprises Ltd was last trading in BSE at Rs.306.90, down by Rs.1.75 or 0.57%. The stock hit an intraday high of Rs.311 and low of Rs.306.05.
The total traded quantity was 0.23 lakhs compared to 2 week average of 0.22 lakhs.