Religare Enterprises Board Approves Plan to Raise $430 Million of Capital

Religare Enterprises Ltd., the Indian financial services firm controlled by billionaire brothers Malvinder and Shivinder Mohan Singh, said it will raise 20 billion rupees ($430 million) by issuing capital, without giving details.

The company also reported a loss of 494 million rupees in the three months ended June 30, from a year earlier profit of 134 million rupees, the New Delhi-based Religare said in a statement to the Bombay Stock Exchange.

To contact the reporter on this story: Madelene Pearson in Mumbai at mpearson1@bloomberg.net

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