New Delhi: Religare Enterprises Ltd has raised Rs 145.78 crore by issuing convertible warrants to a group of investors, the company has disclosed in a stock exchange filing.

The warrants were allotted on a preferential basis and entitles the investors to subscribe to a total of around 11.15 crore equity shares of face value of Rs 10 each at a premium of Rs 42.30 per share, it said. The investment, borrowing and share allotment committee of Religare’s board of directors has given convertible warrants having a total value of Rs583.13 crore to entities and persons including former board member Ashok Mehta. Religare has received upfront payment of Rs 145.78 crore, which is equivalent of 25% of total consideration as per terms of preferential issue, it told BSE on Thursday evening. “Since the company (Religare) has allotted warrants, there is no change in paid-up equity share capital of the company at present,” Religare said. A total of 11,14,97,914 convertible warrants have been issued at a price of Rs.

52.30 each on a preferential basis , which the investors can convert to an equivalent number of shares at the same price.

Share prices of Religare on BSE closed at Rs 57.65 apiece on Friday, 0.43% lower than the previous close.

The benchmark Sensex ended 0.03% lower. Ashok Mehta, formerly an independent director on Religare’s board of directors, stepped down from the board on April 17 as he was subscribing to warrants that would lead him to eventually hold around 5.41% equity in the company.

This would exceed the threshold specified for independent directors under the Companies Act, 2013, said Religare. “Mr Ashok Mehta will now serve as interim CEO (without being on board of directors) of the company till the RBI approval is received for his appointment as whole-time director and interim CEO of the company,” Religare told BSE on Wednesday. A total of 38 investors have been allotted convertible warrants, with Mehta receiving 1.91 crore such warrants, according to the latest BSE notification.