Stock Exchanges approve Religare's application for reclassification of Erstwhile promoters

Religare Enterprises Limited ('REL' or ' Company') has announced that their application for reclassification of erstwhile promoters have been approved by both the stock exchanges viz. Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) and the following Promoters & Promoter Group are now reclassified as public Shareholders under the provisions of Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")

1. Malvinder Mohan Singh
2. Shivinder Mohan Singh
3. Japna Malvinder Singh
4. Aditi Shivinder Singh
5. Abhishek Singh
6. RHC Finance Private Limited
7. RHC Holding Private Limited
8. PS Trust (held in the name of Malvinder Mohan Singh & Shivinder Mohan Singh)

On this event, Company's Executive Chairperson Dr. Rashmi Saluja said "We at Religare Enterprises Limited are pleased and satisfied that our application towards reclassification of erstwhile promoters as public shareholders have been approved. The Company already has diversified set of shareholders and institutional investors and since last few years the Company's is being run by a highly professional Board and Management. The current reclassification has done justice to the Company and its highest set of Corporate Governance standards, which have laid foundation of Religare 2.0. It's a huge boost for all our stakeholders and recognition of the new identity of Religare".

Shares of RELIGARE ENTERPRISES LTD. was last trading in BSE at Rs.137.9 as compared to the previous close of Rs. 142.2. The total number of shares traded during the day was 909153 in over 6735 trades.

The stock hit an intraday high of Rs. 143.5 and intraday low of 134.5. The net turnover during the day was Rs. 124029541.

Source : Equity Bulls

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