Religare Enterprises Limited (REL) announced the allotment of 74,80,324 equity shares of its subsidiary, Care Health Insurance Limited (CHIL), on June 30, 2026. These shares, with a face value of ₹10 each, were issued at a premium of ₹150 each, amounting to a total of ₹119.68 crore (1,19,68,51,840). This allotment is in response to REL's application to subscribe to CHIL's rights issue, which was approved by REL's Board of Directors on June 19, 2026. The funds raised through this rights issue by CHIL will be utilized to finance its expansion plans and meet statutory solvency requirements. CHIL, a material unlisted subsidiary of REL, is engaged in the health insurance business and operates with 277 branches and over 13,000 professionals as of March 31, 2026. The company had served over three million policyholders. While this transaction is considered a related party transaction due to the holding-subsidiary relationship, it was conducted at arm's length, with the price offered uniformly to all shareholders. The promoter of REL has no interest in CHIL. The acquisition, in terms of the letter of allotment received by REL on July 08, 2026, is deemed to have been completed on the same day. CHIL's turnover for the last three financial years was ₹7,022 crore in FY 2023-24, ₹8,562 crore in FY 2024-25, and ₹10,416 crore in FY 2025-26.
