Religare Enterprises, a financial services company, is open for subscription with its initial public offering (IPO) of 7,576102 equity shares of Rs 10 each for cash, at a price to be decided through a 100% book building process.
The issue will close on November 1, 2007. The price band is between Rs 160 to Rs 185 per equity share.
Religare Enterprises is a holding company of 11 subsidiaries, which are engaged in a wide range of financial products and services targeted at the retail, high net worth individuals and the corporate and institutional clients. Along with its various subsidiaries, it offers a wide range of services ranging from equities, commodities, insurance broking, to wealth advisory, portfolio management services, personal finance services, investment banking and institutional broking services.
REL’s consolidated total income increased from Rs 311.27 million in fiscal 2006 to Rs 3,201.18 million in fiscal 2007. Its net profit increased from Rs 106.20 million in fiscal 2006 to Rs 250.21 million in fiscal 2007. It posted a consolidated Total Income of Rs 3,079.64 million and a net profit of Rs 367.26 million during the first half of fiscal 2008.
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