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    Religare Enterprises to divest stake in arm to Kedaara for Rs 200 crore

    Farhat NasimWritten by Farhat Nasim Published On 2020-02-09T10:30:36+05:30  |  Updated On 9 Feb 2020 10:31 AM IST
    Religare Enterprises to divest stake in arm to Kedaara for Rs 200 crore

    "The company has entered into the definitive agreements (share subscription and share purchase agreement and shareholders agreement)...with Kedaara Capital Fund II LLP and Trishikhar Ventures LLP (jointly referred as Kedaara ) for sale of part of the investment in Religare Health Insurance Company Ltd (RHICL), a subsidiary company for a consideration aggregating to Rs 200 crore," Religare Enterprises said in a filing to BSE.

    New Delhi: Religare Enterprises on Friday said it has entered into a pact with Kedaara Capital for divesting 6.76 per cent stake in its arm Religare Health Insurance Company (RHICL) for Rs 200 crore.

    "The company has entered into the definitive agreements (share subscription and share purchase agreement and shareholders agreement)...with Kedaara Capital Fund II LLP and Trishikhar Ventures LLP (jointly referred as Kedaara ) for sale of part of the investment in Religare Health Insurance Company Ltd (RHICL), a subsidiary company for a consideration aggregating to Rs 200 crore," Religare Enterprises said in a filing to BSE.

    Also Read: Biocon Sells 2.44 Pc Stake In Biocon Biologics Worth Rs 536.25 Crore To True North

    The transaction is subject to necessary statutory and regulatory approvals and fulfilment of other conditions precedents, it said.

    It further said that the primary capital infusion of Rs 200 crore in RHICL by Kedaara pursuant to the said transactions, the company "would have divested part of its investment constituting 6.761 per cent of RHICL".

    Source : PTI

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    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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