Religare Enterprises approves allotting Rs 550-cr preferential equity shares

Written by PTI | New Delhi | Updated: Apr 1 2014, 02:07am hrs
Religare Enterprises today approved of allotting Rs 550 crore equity shares on preferential basis to two non-promoter companies, including Standard Chartered Bank.

"Religare Enterprises...has approved the proposal for preferential allotment of equity shares of the company amounting up to Rs 550 crore to Bestest Developers Private Limited and Standard Chartered Bank (Mauritius) Ltd," it said in a regulatory filing to the BSE.

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Company will be obtaining approval of shareholders of for proposed preferential allotment through postal ballot, it added.

Shares of the company today ended at Rs 318.35

apiece on the BSE, up 3.92 per cent from the previous close.