INSUBCONTINENT EXCLUSIVE:
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
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
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 board on April 17 as he was subscribing to warrants that would lead him to eventually hold around 5.41% equity in the company
serve as interim CEO (without being on board of directors) of the company till the RBI approval is received for his appointment as
warrants, with Mehta receiving 1.91 crore such warrants, according to the latest BSE notification.
