Religare Enterprises Ltd approves raising of Rs. 2500 crores

The Board of Directors of Religare Enterprises Ltd at its meeting held on July 31, 2015, has approved the raising of funds for an amount not exceeding Rs. 1,500 crores through issuance of Equity shares or equity linked securities to eligible investors through one or more modes of issuance subject to the approval of the members of the Company in the forthcoming Annual General Meeting pursuant to the provision of Section 62(1)(c) of the Companies Act, 2013 and other applicable provision of law and the constitutional documents of the Company.

The Board also approved raising of funds for an amount not exceeding Rs. 1,000 crores through issuance of Non-convertible Debentures subject to the approval of the members of the Company in the forthcoming Annual General Meeting pursuant to the provision of Section 42 of the Companies Act, 2013 and other applicable provision of law and the constitutional documents of the Company.

Shares of RELIGARE ENTERPRISES LTD. was last trading in BSE at Rs.310.65 as compared to the previous close of Rs. 312.95. The total number of shares traded during the day was 9033 in over 364 trades.

The stock hit an intraday high of Rs. 326 and intraday low of 301.1. The net turnover during the day was Rs. 2834139.

Source : Equity Bulls

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