I warn again to people dont ever invest in this Ipo. Remember they did same thing with fortis also.Fortis was done pre ipo placement at even higher price of 125 rs to mc kinsey and to retailers at 108 and see now its at 77.Now artificiaaly during the time of ipo they will increase Fortis price to let there Ipo Go through. Remember there management is greedy and they will eat away ur money.Nnone has made money in Ranbaxy or fortis and I am sure none will make money in this ipo too. Better buy motilal oswal now which has much better growth and profit making than cheaters religare
Religare Enterprises has set a price band of Rs 160-185 per share for its initial public offer (IPO). The IPO is likely to hit the market by this month-end.
The company is selling 75.7 lakh shares through IPO. At upper end of the band the firm would raise Rs 140 crore.
Global financial services player Merrill Lynch has bought a 5% stake in Religare Enterprises for about Rs 60 crore through its subsidiary Indopark Holdings.
Religare is a Delhi-based financial services-cum-brokerage outfit, founded by the the owners of Ranbaxy Laboratories.
Religare Enterprises is the holding company for all its businesses, with its subsidiaries, Religare Securities, Religare Wealth Management Services, Religare Capital Markets and Religare Insurance Broking, among others.
Religare recently joined hands with Dutch insurer Aegon to set up a life insurance and asset management venture in the country. The joint venture will be investing over Rs 1,000 crore in the initial phases of the project.
I appreciate and thank the Owners of this Website and the Readers who frankly revealed us their past experience with Fortis promoted by the same Ranbaxy Group prompting IPO subscribers to take decisions carefully and not go by just Goodwill of the Promoters
i agree its a good promoter but once having deceived in fortis one should be very cautious, and as such after brar left ranbaxy group is not performing well.singh brothers are in no way comparable to their father or brar.
MUMBAI -(Dow Jones)- Religare Enterprises Ltd., an Indian financial services firm, has set its initial public offering in the 160-185 rupee ($4.04-$4.67) price range, an investment banker involved with the issue said Friday.
"The company plans to raise about $35 million and we're confident that despite volatile market conditions, the issue will garner good response from investors," the investment banker, who didn't wish to be named, told Dow Jones Newswires.
The banker said subscriptions open Oct. 29 and extend to Nov. 1.
The founders will dilute 10% through the share offering, the banker said.