Religare Enterprises will raise Rs 500 crore on a private placement basis by issuing non-convertible debentures.
The decision was taken at company’s Investment and Borrowing Committee meeting of the Board held today.
The company said in a regulatory filing that it “…Considered and approved the raising of funds for an amount up to Rs 500 crore through issue of unsecured unlisted non-convertible debentures (NCDs) on private placement basis”.
Religare Enterprises said it will update once the funds are raised and the NCDs are issued.
Shares of the company traded 1.21 per cent higher at Rs 293.15 apiece on BSE in the noon session.