Financial Services Company, Religare Enterprises is all set to tap the equity markets with its initial public offering (IPO) of 7,576102 equity shares at Rs 10 each. The issue will constitute 10% of the fully diluted post issue capital of the company.
Religare Enterprises IPO will open for subscription on October 29,2007 and the IPO will close for Subscription on November 1,2007. The price band of REL IPO has been fixed between Rs 160 at the lower end and Rs 185 at the higher end per equity share. The issue has been assigned IPO Grade 3 out of 5 by the ICRA.
Out of the total 75 lac equity shares under offer, at least 60% of the Issue will be allocated to qualified institutional bidders (QIBs) , of which 5% will be available to mutual funds. 30% will be available to the Retail Investors and the other 10% will be available to the Institutional Buyers.
About Religare Enterprises Limited
Religare Enterprises Limited is promoted by the Ranbaxy Laboratories.The company has six regional offices and 40 sub-regional offices across 392 cities and towns controlling 1,217 business locations all over India as well as a representative office in London.
Religare Enterprises is a holding company of 11 subsidiaries which offers a wide range of services ranging from equities, commodities, insurance broking, to wealth advisory, portfolio management services, personal finance services, investment banking and institutional broking services.
Financials of the Company
REL’s consolidated total income increased from Rs 311.27 million in fiscal 2006 to Rs 3,201.18 million in fiscal 2007. Its net profit increased from Rs 106.20 million in fiscal 2006 to Rs 250.21 million in fiscal 2007. It posted a consolidated Total Income of Rs 3,079.64 million and a net profit of Rs 367.26 million during the first half of fiscal 2008.
Pre-IPO Placement in REL
Religare Enterprises Limited will issue an allot around 38 lakh equity shares which would represent 5.56% ownership of the paid up capital of the company worth Rs 606 million to Indopark Holding Limited.
Objectives of the REL IPO
Expans Domestic Operations and Network Branches.
Fund Retail Finance Business
Expand Financing Activity
Enhance the visibility and to acheive the Benefits of Listing.
The Book Running Lead Managers to the Religare Enterprises Limited IPO are Enam Securities Private Limited and Citigroup Global Markets India Private Limited. Registrar for the IPO is Karvy Computershire Private Limited.
Post IPO the equity shares of the company are proposed to be listed on NSE and BSE stock exchanges.
Religare Enterprises Limited (REL) IPO Prospectus
For more information regarding the Religare Enterprises IPO subscription details, Allotment and other details do check this blog regularly.
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4 comments ↓
Hi,
Thanks for giving this detailed information. I was really searching it. One more request is if you can draw a comparision between two three IPO’s and let me know how much shd i invest in here. Also any rough idea how much times it will be oversubscribed?
The company has been doing well – at least from what I see – it is gaining market share fast. If you have spare cash do apply for it.
Religare IPO subscribed nearly 6 times on day 1
The initial public offer (IPO) of Religare Enterprises, a financial services provider led by promoters of Ranbaxy
Laboratories, today got subscribed by nearly six times on its first day of issue.
The IPO received bids for 4.50 crore shares against 75.76 lakh equity shares on offer, data available on the stock exchanges
show.
MANY MANY THANKS TO WEBSITE TO PROVIDE BASIC & IMPORTANT INFORMATION TO LAYMAN.
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