U Gro Capital to acquire Religare Finvest in Rs 400 crore deal soon: Anil Singhvi
Zee Business Managing Editor Anil Singhvi on Friday revealed that U Gro Capital will acquire the business of Religare Finvest.
Zee Business Managing Editor Anil Singhvi on Friday revealed that U Gro Capital will acquire the business of Religare Finvest. The Market Guru was told that both companies have exchanged non-binding terms document between them. Citing sources, Zee Business correspondent Anurag Shah said Mumbai-based U Gro Capital will take over the business of Religare Finvest. He said, “U Grow Capital will acquire Religare Finvest for Rs 400 crore. Most important development in this regard is the exchange of non-binding term documents between the two companies, indicating it's almost a sealed deal now. The announcement in this regard will be also made anytime soon.”
Find the detail coverage in the video below:
#ZBizExclusive | रेलिगेयर फिनवेस्ट के कारोबार को खरीदेगी U GRO कैपिटल, दोनों कंपनियों के बीच नॉन बाइंडिंग टर्म डॉक्यूमेंट का एक्सचेंज हुआ...डील का एलान जल्द- सूत्र#ReligareFinvest #UGROCapital @AnilSinghvi_ @anuragshah_ pic.twitter.com/Mv1R0kIK6L
— Zee Business (@ZeeBusiness) December 24, 2020
Anurag further said, “U Grow Capital founder Mr Nath used to be the CEO of Religare back in 2016 and hence he knows weaknesses and strengths of the company.”
Anurag said it is a big development considering management of Religare Finvest was changed in 2018 and RBI corrective measures were taken subsequently after discrepancies were detected in the company’s work.
See Zee Business Live TV Streaming Below:
Religare Enterprise share price was trading around Rs 72 during Thursday’s trading session
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
10:51 AM IST