Religare Enterprises to conduct postal ballot for disinvestment

Last week, Religare Enterprises announced that the company will conduct postal ballot to obtain approval of the shareholders of the company by the way of special resolution on disinvestment of entire investment of the company in material subsidiaries and Religare Housing Development Finance Corporation Limited and Sales, disposal and leasing of assets exceeding 20 per cent of assets of Religare Finvest Limited.

The postal ballot notice shall be dispatched to the shareholders of the company whose name appear in the register of member of company as on October 11th, 2019. Only those who held shares on this date will have the voting rights. The voting facility by postal ballot including e-voting will be held from October 18th to November 16th and the result will be declared on November 18th.

Religare Enterprise Limited is a diversified financial service group present across three verticals. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking.

On Wednesday, the stock of Religare Enterprises Limited opened at Rs. 45.90 per share and made an intraday high and low of Rs. 46.55 and Rs. 45.00, respectively on the BSE. At 14.40 hours, the stock was trading at Rs. 46.55, up by 4.96 per cent.