Elpro International Limited has recently acquired equity shares in Religare Enterprises Limited, marking a strategic investment move. Religare Enterprises, a well-established financial services group, operates across diverse segments, including SME loans, affordable housing finance, health insurance, and capital markets. With a strong presence in India, the company has shown steady growth in recent years, reporting a consolidated revenue of ₹6,299.26 crores for FY 2023-24.
Elpro International’s acquisition, valued at ₹12.60 crores, includes 5,00,999 fresh equity shares, increasing its total holding to 14,16,004 shares. The transaction, executed through cash consideration, falls outside the realm of related party transactions, ensuring an independent investment decision.
This move aligns with Elpro’s investment strategy, allowing it to diversify its financial portfolio by securing a stake in a high-growth enterprise. As an investment company, Religare Enterprises continues to strengthen its market position through its subsidiaries, making it an attractive proposition for investors.