The Burman family-led promoter group of Religare Enterprises Limited (REL) will invest Rs 750 crore in the company as part of a Rs 1,500 crore capital raise approved by the Board on Friday.
The fundraise will be carried out through the preferential allotment of 6.38 crore convertible warrants, each eligible for one equity share of Rs 10 face value, the company said in a statement.
The capital will be used to grow the company’s core businesses and pursue new strategic opportunities, it said. “The Promoters have reaffirmed their long-term commitment in the Company’s growth trajectory by contributing ₹750 crores.”
This capital raise follows the recent appointment of promoter-nominee directors, who bring experience across insurance, finance, and corporate strategy. Religare said their addition will help strengthen governance frameworks and improve execution capacity across the group’s business verticals.
"With this capital infusion and new leadership at the helm, REL is well-positioned to sharpen its strategic focus, enhance governance standards, scale its core businesses, and pursue new growth opportunities," Religare said.
Axis Capital Limited acted as the financial advisor to Religare for the fundraising process.
The capital infusion follows a significant shift in control earlier this year. In February 2025, the Burman family secured control of Religare after a prolonged 17-month takeover battle. Their takeover came after the ouster of former Executive Chairperson Rashmi Saluja, whose reappointment was voted down by shareholders.
In March, the company had launched a governance review of its operations and subsidiaries. Religare Board had also noted a short-term “cash-flow gap” and approached the Burmans for immediate financial support to sustain operations.
The fundraise will be carried out through the preferential allotment of 6.38 crore convertible warrants, each eligible for one equity share of Rs 10 face value, the company said in a statement.
The capital will be used to grow the company’s core businesses and pursue new strategic opportunities, it said. “The Promoters have reaffirmed their long-term commitment in the Company’s growth trajectory by contributing ₹750 crores.”
This capital raise follows the recent appointment of promoter-nominee directors, who bring experience across insurance, finance, and corporate strategy. Religare said their addition will help strengthen governance frameworks and improve execution capacity across the group’s business verticals.
"With this capital infusion and new leadership at the helm, REL is well-positioned to sharpen its strategic focus, enhance governance standards, scale its core businesses, and pursue new growth opportunities," Religare said.
Axis Capital Limited acted as the financial advisor to Religare for the fundraising process.
The capital infusion follows a significant shift in control earlier this year. In February 2025, the Burman family secured control of Religare after a prolonged 17-month takeover battle. Their takeover came after the ouster of former Executive Chairperson Rashmi Saluja, whose reappointment was voted down by shareholders.
In March, the company had launched a governance review of its operations and subsidiaries. Religare Board had also noted a short-term “cash-flow gap” and approached the Burmans for immediate financial support to sustain operations.
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