November 22, 2017 8:05 AM ET

Capital Markets

Company Overview of Religare Securities Limited

Company Overview

Religare Securities Limited provides various financial services in India. The company’s services include equity and derivatives broking, depository participant, institutional broking, research, and portfolio management services, as well as sells mutual funds. It also offers an online investment portal. The company was formerly known as Fortis Securities Limited and changed its name to Religare Securities Limited in December 2005. The company was incorporated in 1986 and is based in New Delhi, India. Religare Securities Limited operates as a subsidiary of Religare Enterprises Limited.

D3, P3B, District Centre


New Delhi,  110017


Founded in 1986


91 11 3912 5000

Key Executives for Religare Securities Limited

Chief Executive Officer
Head of Legal & Compliance
Age: 50
National Head of­ Retail Equity
Age: 48
Head of International Operations
Age: 46
National Head of Personal Financial Services
Age: 43
Compensation as of Fiscal Year 2017.

Religare Securities Limited Key Developments

Malvinder Singh and Shivinder Singh To Divest Stakes In Their Key Businesses

Malvinder Singh and Shivinder Singh are looking to divest management control in all their key businesses-hospitals, non-banking finance business, health insurance and stock broking, through multiple transactions that will raise around Rs 5,500 crore and enable the Singh brothers to tide over the cash crunch at the group level. “The brothers have decided to sell management control in Fortis Healthcare Limited (BSE:532843), Religare Health Insurance Limited and Religare Securities Limited and eventually in Religare Enterprises Limited (BSE:532915), the holding company for the non-banking finance business,” said a person aware of the development. “The group is expected to sign binding agreements separately for three transactions in the next two months. The promoters are in talks with three potential suitors to fully divest the stock broking arm of Religare Enterprises. Reliance Capital is the frontrunner, said a person familiar with the development, and the deal size is expected to be Rs 200-250 crore. A Reliance Capital spokesperson declined to comment. According to persons with knowledge of the situation, the Singh brothers are in discussions with two private equity firms India Value Fund (IVF) and Warburg Pincus. to sell up to 51% stake in Religare Health Insurance with management control. Government guidelines allow for only 49% foreign direct investment (FDI) in the health insurance sector and, therefore, whether they sell 49% or 51% will depend on who the buyer is.

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Recent Private Companies Transactions

February 17, 2017
Religare Wealth Management Ltd.

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