Ashish Kacholia buys 40 lakh shares of Religare Enterprises for Rs 17.6 crore

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26 Aug, 2025 12:21

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Veteran investor Ashish Kacholia bought 40,00,000 shares of Religare Enterprises through a bulk deal on NSE on January 13, data on the exchange showed.

Kacholia bought the shares of Religare Enterprises at an average price of Rs 44 per share, taking the cumulative value of the transaction to Rs 17.6 crore.

Extending the gains into the third consecutive session, shares of Religare Enterprises closed 4.90 percent up at Rs 47.10 on NSE on January 13.

Besides Kacholia, another investor Mukul Mahavirprasad Agrawal bought 26,04,206 shares of Religare Enterprises for Rs 11.46 crore, at an average price of Rs 44.

Meanwhile, Axis Bank sold 90,00,000 shares of Religare Enterprises through a bulk deal on NSE for Rs 39.6 crore, at an average price of Rs 44 per share.

The Enforcement Directorate (ED) on January 10 filed a charge sheet against erstwhile promoters of Religare Enterprises Shivinder Singh and his brother Malvinder before a Delhi court in a case related to alleged misappropriation of funds at Religare Finvest Ltd (RFL).

The court took cognisance of the charge sheet and issued a production warrant against them for January 20. All three accused are currently in judicial custody.

Following ED's charge-sheet against the erstwhile promoters along with a co-accused, Religare on January 10 expressed satisfaction over the course of events.

"We are happy that the law has taken its own course. The focus of the new board and management is to ensure that the ethos of good governance, ethics and accountability become the hallmark of the Religare Group," said Dr. Rashmi Saluja, Executive Chairperson of Religare Enterprises Limited.