Religare Enterprises shares rise 6% as company proposes to raise fund

Religare Enterprises share price gained 6 per cent in trade, logging an intraday high at ₹234.8 per share on Wednesday on plans to raise funds

Religare Enterprises share price climbed 6.2 per cent, logging an intraday high at ₹234.8 per share on Wednesday. At 11:38 AM, Religare Enterprises shares were up 3.69 per cent at ₹229.2 per share on the BSE. In comparison, the BSE Sensex was up 0.03 per cent at 83,736.59. The company's market capitalisation stood at ₹7,578.58 crore. Its 52-week high was at ₹319.9 per share and the 52-week low was at ₹202.45 per share.   READ STOCK MARKET LATEST UPDATES LIVE

What led to rally in Religare Enterprises stock?

The northward movement in the stock came after the company informed investors that it was planning to raise funds. 

 

 

"We wish to provide notice that a meeting of the Board of Directors (“Board”) of the Company is scheduled to be held on July 11, 2025, to inter-alia consider and, if thought fit, to approve the proposal for raising funds by way of issue of specified securities of the company on a preferential basis," the filing read. 

 

Besides, in Q4, the company's consolidated net profit after tax (PAT) stood at ₹151.3 crore as compared to ₹181 crore a year ago, down 17 per cent year-on-year (Y-o-Y). However, sequentially, the company swung from loss of ₹36.28 crore in Q3. 

 

Its revenue from operations increased 9.3 per cent Y-o-Y to ₹2,028.4 crore for Q4 against ₹1,855.68 crore a year ago. In Q3, the revenue stood at ₹1,664.4 crore. 

 

Religare Enterprises was in the news for a long time previously for a takeover battle since September 2023, when the Burmans of Dabur group, having reached a 25 percent stake in the company, made an open offer to acquire an additional 26 percent. However, the senior management, led by chairperson Rashmi Saluja, opposed the offer, contending that the price of ₹235 per share undervalued the company.   ALSO READ | Belrise Industries soars 13% in 2 days, hits record on Jefferies 'Buy' call 

In a communication to the regulators, the then-board also raised questions about whether the Burmans meet the "fit and proper" criteria of the regulators. The Burman family said they are successfully operating insurance firms and an NBFC and hence meet all the criteria.

 

In February 2025, the Burman family acquired control of Religare Enterprises and were designated as its promoters after almost 18 months of a takeover battle.

 

 "We are grateful to our regulators, shareholders and other stakeholders for their trust and confidence," the Burman family said in a statement. The Burman Group will work with REL’s leadership and board to reinforce its strategic direction and enhance long-term value creation.