RELIGARE

RELIGARE ENT ; Religare Enterprises Approves Demerger of Financial Services Business • 🧩 Strategic Demerger Approved: Financial services business to be separated into Religare Finvest Ltd (RFL) to create two focused listed entities. • 🏦 Insurance Business Retained: Religare will continue to hold stake in Care Health Insurance, while lending, broking and investment activities move to RFL. • 📈 1:1 Share Entitlement: REL shareholders to receive 1 share of RFL for every 1 REL share held, with proposed listing of RFL on exchanges. • 🎯 Value Unlock Strategy: Management aims for better capital allocation, focused management attention, and clearer business positioning for investors. • ⚖️ Regulatory & Approval Process Pending: Scheme subject to shareholder, creditor, SEBI and NCLT approvals; completion targeted around FY28 Q1. 🟢 Impact: Positive (Strategic Long-Term) Demerger can unlock valuation, improve transparency, and allow separate growth trajectories for insurance and financial services businesses. Near-term execution and approval risks remain.