Religare Enterprises is all set for a three-way split as a part of its restructuring process. Post this, the company will be able to list its first health insurance company on Indian bourses.
Shachindra Nath of Religare Enterprises says that their business would be built around the financial inclusion goal of the banking regulator and ensured compliance with all the norms of of the RBI.
Religare Enterprise's group CEO Shachindra Nath, explains on CNBC-TV18, that the company stands a high chance of being granted a licence as it has Rs, 13,000 crore in assets and is focused on the SME sector.
One of India's most ambitious and diversified financial services groups, Religare Enterprises, is a group that is eying a banking license and a group that believes it should get a banking license, says the chairman and managing director Sunil Godhwani.
Yesterday, the Reserve Bank of India released the Draft Guidelines for "Licensing of New Banks in the Private Sector". In an interview to CNBC-TV18, Sachindra Nath, group COO, Religare Enterprises said, he is confident that Religare qualifies on most of the norms.
Religare Enterprises. said its board approved raising of funds up to Rs 800 crore through issuance of equity shares on rights basis to the existing shareholders of the company.