Burman-Backed Religare Enterprises Announces Demerger To Unlock Shareholder Value

Expert Analysis:

• Religare Enterprises Ltd (REL), backed by the Burman family, has approved a scheme to separate its businesses into two independent listed entities: REL will retain its stake in Care Health Insurance Ltd as the insurance-focused company, while the lending, broking, investment and related support activities will be moved on a going‑concern basis into subsidiary Religare Finvest Ltd (RFL).

• As demerger consideration, RFL will issue fully paid‑up equity shares to REL shareholders on a 1:1 mirror basis, after which RFL will be listed on BSE and NSE with a shareholding pattern identical to REL’s; the scheme will be implemented via NCLT approval and other statutory and regulatory clearances, with the group targeting RFL’s listing by Q1 FY28.