Religare Enterprises plans to raise Rs 1,500 crore

Financial services firm Religare Enterprises on Tuesday said it plans to raise up to Rs 1,500 crore by issuing securities to resident or non-resident investors. The company proposes "issue of securities including but not limited to Qualified Institutional Buyers as defined under the SEBI ICDR Regulations, resident or permitted non-resident investors". And or not such investors are shareholders of the company, foreign institutional investors, foreign portfolio investors and or non-resident Indians, for an amount not exceeding Rs 1,500 crore through a offer document," the company said in an AGM notice. The firm will seek shareholders' approval for raising the fund through one or more than one tranches in the AGM to be held on September 14, it added.