Religare Enterprises to raise up to Rs 2,500 cr

Domestic financial major Religare Enterprises intends to raise up to Rs 2,500 crore. The decision was approved by the board of the company at the extra ordinary general meeting (EGM) held on March 12, 2011.

The board further approved an increase in the size of the employee stock option pool from existing 5% to 10% of the fully diluted equity share capital of the company under the Religare Employee Stock Option Scheme, 2010. The scheme will be for the employees of Religare Enterprises and of its subsidiary companies, said a company announcement on the stock exchanges.

Religare is an emerging markets financial services group with a presence across Asia, Africa, West Asia, Europe, and America. In India, the company offers services including broking, insurance, asset management, lending solutions, investment banking and wealth management.

Shares of Religare Enterprises remained unchanged at Rs 488 during the morning trading session.