Religare
   HOME

TheInfoList



OR:

Religare Enterprises Limited (REL) is an Indian Investment company registered with the Reserve Bank of India (RBI), headquartered in
New Delhi, India New Delhi (, , ''Naī Dillī'') is the capital of India and a part of the National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the government of India, hosting the Rashtrapati Bhavan, Parliament House ...
. REL is listed on
National Stock Exchange of India National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, Mah ...
and
Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange in ...
. It is an holding company for the subsidiaries conducting diversified financial services businesses of the group. Dr Rashmi Saluja is the executive chairperson of the company.


History

Founded in 1982, initially Religare was a stock brokerage firm called Religare Securities Limited (RSL) and was admitted to the National Stock Exchange (NSE) in 1994. In 2000, it secured membership of the Futures and Options segment of the NSE and also registered with
National Securities Depository Limited National Securities Depository Limited (NSDL) is an Indian central securities depository, based in Mumbai. It was established in August 1996 as the first electronic securities depository in India with national coverage. It was established base ...
(NSDL) as a depository participant. Religare Finvest, a group company, was founded in 2001 as a private non-banking financial institution. In 2002, RSL received registration as ‘Portfolio Manager’ from Securities and Exchange Board of India (SEBI). RSL registered with
Central Depository Services Limited Central Depository Services (India) Ltd. (CDSL), the first listed Indian central securities depository, was founded in 1999. The main function of CDSL facilitates holding and transacting in securities in the electronic form and facilitates set ...
(CDSL) as a depository participant in 2003. It also became a stock broker at the
Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange in ...
(BSE) in 2004. In the same year, Religare Commodities Limited, a commodities broking company, started operations as a ‘trading cum clearing member’ at both the
Multi Commodity Exchange Multi Commodity Exchange of India Ltd (MCX) ( BSE: 534091) is a India’s first recognised commodity exchange. MCX is regulated by Securities Exchange Board of India (SEBI), which is the securities market regulator in India since 28th September ...
(MCX) and the
National Commodity and Derivatives Exchange National Commodity & Derivatives Exchange Limited (NCDEX) is an Indian online commodity and derivative exchange based in India. It is under the ownership of Ministry of Finance, Government of India. It has an independent board of directors an ...
(NCDEX). An office was established in London in 2006. In 2006, RSL received registration as Merchant Banker in Category – I from SEBI. Religare announced a joint venture with Macquarie Bank Ltd. in October 2007 to expand its wealth management business. REL went public with an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
(IPO) of its stock in November, 2007, which was oversubscribed 159 times. The same year, RSL received membership of derivative segment of the BSE as trading-cum-clearing member. Religare has been involved in a joint-venture life assurance business with AEGON and Bennett, Coleman & company. In 2011, Religare Finvest successfully issued non-convertible debentures (NCDs) worth ₹800 crores. In December 2011, Avigo Capital and in January 2012, Jacob Ballas invest in Religare Finvest Limited (RFL). In 2012
International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...
(IFC), an arm of
World Bank Group The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...
, invested in Religare. Religare Health Insurance Company Limited (RHIC) started operations in 2012.
Union Bank of India Union Bank of India, commonly referred to as Union Bank or UBI, is an Indian public sector bank headquartered in Mumbai. It has 120+ million customers and a total business of US$106 billion. After the amalgamation with Corporation Bank and A ...
and
Corporation Bank Corporation Bank was a public-sector banking company headquartered in Mangalore, India. The bank had a pan-Indian presence. Presently, the bank has a network of 2,432 fully automated CBS branches, 3,040 ATMs, and 4,724 branchless banking units ...
tie up with Religare Health Insurance. In 2013 Religare bought Macquarie's stake in the wealth management business. In the same year the name of Religare Mutual Fund was changed to Religare Invesco Mutual Fund. In 2014 Religare announced acquiring a 26% stake in YourNest Angel Fund through its Global Asset Management arm (RGAM). Religare has exited its global asset management business. In February 2017, Anand Rathi Wealth Management acquired Religare's wealth management business. In April 2017, Religare announced that it had sold its stake to the True North a consortium of PE investors. In 2020, the company reported consolidated net loss of ₹115.24 crores in second quarters results.


Subsidiaries

* Religare Finvest Limited (RFL) * Religare Housing Development Corporation Finance Limited (RHDFCL)


References

{{reflist


External links


Official website

Religare
on
The Economic Times ''The Economic Times'' is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. ''The Economic Times'' began publication in 1961. As of 2012, it is the world's second-most widely read English-language bus ...
Financial services companies based in Delhi Companies based in New Delhi Indian companies established in 1982 Brokerage firms 1982 establishments in Delhi Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange