Religare Group has completed a transaction with Kedaara group entity, Trishikhar Ventures, for investments in its health insurance subsidiary called Religare Health Insurance Company (RHICL).
The total investment made by Kedaara Capital to acquire shares of RHICL is Rs 567.31 crore which comprises primary capital infusion of Rs 300 crore and Rs 267.31 crore for the purchase of RHICL shares from the existing shareholders, including purchase of 6.39 per cent stake from the company against a consideration of Rs 200 crore.
Following these transactions, the shareholding of the company in RHICL now stands at 72.02 percent on a paid-up capital basis.
The equity infusion is in sync with the long term vision of RHICL to be future-focused, explore its full potential and accelerate growth.