Religare promoters hike stake in company to 66.11 pc

MUMBAI: Financial services firm Religare Enterprises today said its promoter stake in the company has risen to 66.11 per cent pursuant to conversion of warrants.

The board has approved the allotment of a little over 56.17 lakh shares at a price of Rs 445 a piece to RHC Finance on conversion of warrants, Religare said in a filing to the Bombay Stock Exchange.

The warrants were issued to RHC Finance, a promoter entity of the company, on September 23.

Following the allotment the shareholding of promoter and promoter groups of the company stand increased to 66.11 per cent, from 64.69 per cent, the filing added.

Shares of Religare closed at Rs 490, down 0.55 per cent on the BSE.