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Religare

#5807

Rank

$828.23M

Marketcap

IN India

Country

Religare
Leadership team

Dr. Rashmi Saluja (Exec. Chairperson & Whole Time Director)

Mr. Nishant Singhal (Pres & Gen. Counsel)

Mr. Nitin Aggarwal (Group Chief Financial Officer)

Products/ Services
Banking, Financial Services, FinTech
Number of Employees
1,000 - 20,000
Headquarters
New Delhi, Delhi, India
Established
1984
Revenue
100M - 500M
Traded as
RELIGARE.NS
Social Media
Overview
Location
Summary
Religare Enterprises Limited operates as an investment company in India and internationally. The company provides broking services in equities, currencies, and commodities; depository participant services; tax information network (TIN) and income tax permanent account number (PAN) facilities; and tax deduction at source (TDS)/tax collection at source (TCS) filing services, as well as operates as a National Securities Depository Limited (NSDL)-appointed enrolment agency for Aadhaar unique identification number and an AMFI-registered mutual fund distributor. It also offers finance for small and medium enterprises; and housing finance, including home-purchase, home construction, and home improvement loans. In addition, the company provides e-governance and financial advisory services; and issues digital signature certificate. Further, it offers health insurance services to employees of corporates, and individual customers. Additionally, the company provides critical illness, personal accident, top-up coverage, international travel, and maternity insurance products, as well as group health and personal accident insurance. Religare Enterprises Limited was incorporated in 1984 and is headquartered in New Delhi, India.
History

Founded in 1982, initially Religare was a stock brokerage firm called Religare Securities Limited and was admitted to the National Stock Exchange in 1994. In 2000, it secured membership of the Futures and Options segment of the NSE and also registered with National Securities Depository Limited as a depository participant.Religare Finvest, a group company, was founded in 2001 as a private non-banking financial institution. In 2002, RSL received registration as ‘Portfolio Manager’ from Securities and Exchange Board of India . RSL registered with Central Depository Services Limited as a depository participant in 2003. It also became a stock broker at the Bombay Stock Exchange in 2004. In the same year, Religare Commodities Limited, a commodities broking company, started operations as a ‘trading cum clearing member’ at both the Multi Commodity Exchange and the National Commodity and Derivatives Exchange .An office was established in London in 2006. In 2006, RSL received registration as Merchant Banker in Category – I from SEBI. Religare announced a joint venture with Macquarie Bank Ltd. in October 2007 to expand its wealth management business. REL went public with an initial public offering of its stock in November, 2007, which was oversubscribed 159 times. The same year, RSL received membership of derivative segment of the BSE as trading-cum-clearing member.Religare has been involved in a joint-venture life assurance business with AEGON and Bennett, Coleman & company.In 2011, Religare Finvest successfully issued non-convertible debentures worth ?800 crores. In December 2011, Avigo Capital and in January 2012, Jacob Ballas invest in Religare Finvest Limited . In 2012 International Finance Corporation , an arm of World Bank Group, invested in Religare. Religare Health Insurance Company Limited started operations in 2012. Union Bank of India and Corporation Bank tie up with Religare Health Insurance. In 2013 Religare bought Macquarie's stake in the wealth management business. In the same year the name of Religare Mutual Fund was changed to Religare Invesco Mutual Fund. In 2014 Religare announced acquiring a 26% stake in YourNest Angel Fund through its Global Asset Management arm .

Religare has exited its global asset management business. In February 2017, Anand Rathi Wealth Management acquired Religare's wealth management business. In April 2017, Religare announced that it had sold its stake to the True North a consortium of PE investors.In 2020, the company reported consolidated net loss of ?115.24 crores in second quarters results.

Mission
At Religare, we strive to provide our customers with world-class financial solutions that are tailored to meet their individual needs. We are committed to our clients’ success and delivering the highest level of service.
Vision
Our vision is to be the leading provider of integrated financial services in India and the world. We aspire to create a healthier, happier and more secure future for our clients by enabling them to manage their lives and finances better.
Key Team

Mr. Sanjeev Tandon (Sr. VP of Fin. & Accounts)

Mr. Mayur Ranjan Dwivedi (Director and Head of Strategy, M&A & Investor Relations)

Ms. Reena Jayara (VP, Company Sec. & Compliance Officer)

Rajesh Sharma (Pres of Internal Audit)

Mr. Shalabh Garg (VP of Information Technology)

Sandeep Kumar Diwan (VP of Fin. & Accounts)

Richa Mishra (Director & Group Head - HR)

Recognition and Awards
Religare has been recognized globally for its forward-thinking approach and contributions to the financial industry. The company has won numerous awards, including a Best Life Insurance Provider of the Year award in 2020 and Best Wealth Management House of the Year in 2019.
References

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Religare
Leadership team

Dr. Rashmi Saluja (Exec. Chairperson & Whole Time Director)

Mr. Nishant Singhal (Pres & Gen. Counsel)

Mr. Nitin Aggarwal (Group Chief Financial Officer)

Products/ Services
Banking, Financial Services, FinTech
Number of Employees
1,000 - 20,000
Headquarters
New Delhi, Delhi, India
Established
1984
Revenue
100M - 500M
Traded as
RELIGARE.NS
Social Media