Religare Enterprises Limited is the holding company for one of India's leading financial services groups. Religare offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management. Religare Enterprises is headquartered in New Delhi and is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India. The group started its operations in 1994 when Religare Securities Limited, the group's retail equity broking arm, became a member of the National Stock Exchange. Since then, the group has expanded to offer an array of products and built a distribution network that spans the length and breadth of India. In 2004, Religare Commodities Limited commenced the retail commodities broking business. Religare Finvest Limited, which is registered with the Reserve Bank of India as a Non-Banking Finance Company (NBFC), came into its current form in 2008 and has been focusing on providing growth capital to the Small and Medium Enterprises (SME) sector. Religare commenced three other businesses in 2008: wealth management through Religare Macquarie Wealth Management Limited, a joint venture with Macquarie of Australia; life insurance through AEGON Religare Life Insurance Company Limited, a joint venture with AEGON of The Netherlands; and the mutual fund business by taking over a distressed asset manager which was rechristened Religare Asset Management Company Limited. The latest addition to Religare's bouquet of offerings, launched in July 2012, is health insurance through Religare Health Insurance Company Limited in which Union Bank of India and Corporation Bank are equity partners. Religare is building businesses overseas with an emerging markets focus. Religare Capital Markets is an Asia- and India-focused cash equities business with investment banking capabilities in the region. Religare Global Asset Management is a multi-boutique asset management platform that acquires best-of-breed asset managers in the alternative assets space. Religare Enterprises Limited was listed on the Stock Exchanges in India in 2007, after a hugely successful IPO that was oversubscribed 159 times. In the five year period from 2006-07 to 2011-12, Religare's consolidated revenues have grown ten times - from 3.2 billion to 32.5 billion - while the balance sheet size multiplied 20 times - from 10.1 billion to 203.4 billion. The SME-focused NBFC is Religare's largest business, contributing 57% to Religare's consolidated revenue and accounting for 56% of its net worth at the end of FY12.