The fundraise can be carried out via the preferential allotment of 6.38 crore convertible warrants, every eligible for one fairness share of Rs 10 face worth, the corporate stated in an announcement.
The capital can be used to develop the corporate’s core companies and pursue new strategic alternatives, it stated. “The Promoters have reaffirmed their long-term dedication within the Firm’s development trajectory by contributing ₹750 crores.”
This capital elevate follows the current appointment of promoter-nominee administrators, who convey expertise throughout insurance coverage, finance, and company technique. Religare stated their addition will assist strengthen governance frameworks and enhance execution capability throughout the group’s enterprise verticals.
“With this capital infusion and new management on the helm, REL is well-positioned to sharpen its strategic focus, improve governance requirements, scale its core companies, and pursue new development alternatives,” Religare stated.
Axis Capital Restricted acted because the monetary advisor to Religare for the fundraising course of. The capital infusion follows a big shift in management earlier this yr. In February 2025, the Burman household secured management of Religare after a chronic 17-month takeover battle. Their takeover got here after the ouster of former Government Chairperson Rashmi Saluja, whose reappointment was voted down by shareholders.In March, the corporate had launched a governance overview of its operations and subsidiaries. Religare Board had additionally famous a short-term “cash-flow hole” and approached the Burmans for instant monetary assist to maintain operations.