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Religare Enterprises Rights Issue Approved by Board

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Religare Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 26, 2011 have inter-alia considered and approved, raising of funds for an amount upto Rs. 800 Crores (with an option to increase the issue size by upto 10%), through issuance of equity shares on rights basis to the existing shareholders of the Company. The Board has also constituted a Committee of Directors (“Offer Committee”) to consider and approve specific aspects in relation to this matter.

The other terms of the issue including but not limited to size of the issue, Record Date, Pricing, Ratio etc. will be decided by the Offer Committee in due course in consultation with the intermediaries involved in the process.

Source: BSE Corporate Announcements
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