Religare Ent Board okays to raise Rs 800 cr

Financial services firm Religare Enterprises today said it will raise as much as Rs 800 crore through issuance of equity shares on rights basis.

The board of directors of the company approved to raise funds up to Rs 800 crore (with an option to increase the issue size by up to 10%), through issuance of equity shares on rights basis to the existing shareholders of the company, Religare Enterprises said in a regulatory filing.

A committee of directors has been constituted to consider and approve specific aspects in relation to this matter, the filing added.

Shares of the company were trading in the positive territory, and gained as much as 2% to touch an intra-day high of Rs 492.50, even as the broader market was in the red. It was later trading at Rs 485 at 1403 hours.