Religare Enterprises secures approvals for preferential warrant issue

Religare Enterprises Limited announced on September 3, 2025, that it has received in-principle approvals from the National Stock Exchange of India and BSE Limited. These approvals, granted via letters dated September 2, 2025, are for the preferential issuance of 63,829,782 warrants. Shareholders had previously approved the issuance during an Extra Ordinary General Meeting on August 8, 2025.

Each warrant is convertible into one equity share of face value INR 10, priced at INR 235 per warrant, aiming to raise approximately INR 1500 crore. Religare is required to file a listing application promptly after allotment and comply with all statutory requirements, including SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

To ensure compliance, Religare is advised to strengthen internal controls and obtain undertakings from allottees confirming no intra-day trading or sale of the scrip until the allotment date, as per SEBI (ICDR) Regulations. Non-compliance could impact the listing of these shares.