Religare gains on the Plan to Merge 11 Units with Itself

Religare share price extends gains on the plan to merge 11 units with itself in restructuring. The board of Religare Enterprises Ltd has given the approval to merge 11 of its subsidiaries with REL.

The plan is part of an effort by the group to consolidate its businesses and retain an India-focused strategy. The proposed structure is aimed at streamlining the organization and is designed to permit Religare to attain its objective of following a focused, growth oriented strategy. The units to be merged are as follows;

• Religare Securities Ltd (broking business not to be taken into consideration)
•  Religare Commodity Broking Pvt. Ltd
•  RGAM Investment Advisors Pvt. Ltd
• Religare Venture Capital Ltd
•  Religare Arts Investment Management Ltd
• Religare Capital Finance Ltd
• RGAM Capital India Ltd
• Religare Investment Advisors Ltd
• Religare Support Services Ltd
• Religare Arts Initiative Ltd
• Religare Capital Markets (India) Ltd.

Religare share price is trading at a marginal rise of 0.33 per cent at Rs. 257.50. The stock touched the day’s high and low at Rs. 262 and Rs. 252.95. Till now, around 5,980 shares were traded in the counter with a traded value of Rs. 15.44 lacs as per NSE. It is one of the top 500 performing stocks for this quarter as identified by Dynamic Levels.

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