Religare Enterprises’ promoters make open offer for additional 20 stake (25-Aug-2010)
Promoters of Religare Enterprises, Malvinder and Shivinder Singh, have made an open offer for additional 20% stake in the company at a price of Rs 457 per share. The offer has been made through RHC Finance and RHC Holding, promoter group companies, for acquiring little over 2.79 crore equity shares representing 21.7% of the current share capital and 20% of the diluted share capital of the financial services firm.
The opening date of the offer is October 13, 2010 while it will close on November 01, 2010. The specified date for the offer is September 03, 2010. Further, Kotak Mahindra Capital Company has been appointed as a manager for the open offer.
Earlier this week, the company had approved preferential allotment of shares to Malvinder and Shivinder Singh to increase their stake in the firm from existing 57.10% to 65.79%.
Religare Enterprises had posted a net loss of Rs 4.68 crore for the quarter ended June 30, 2010 as compared to a net profit of Rs 3.17 crore for the quarter ended June 30, 2009.
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