Private Equity

Liquidity Events

Plutus Wealth sells 2% stake in Religare Enterprises for Rs.170-Cr

Zee Business  

Plutus Wealth Management LLP has offloaded 71 lakh shares, amounting to a 2% stake in diversified financial services group Religare Enterprises Ltd (REL) for INR 170 crore through an open market transaction on the NSE.The shares were disposed of at an average price of INR 239.05 apiece, taking the transaction value to INR 169.72 crore. After the stake sale, Plutus Wealth Management's shareholding in REL has declined to 3.97 % from 6.07 % earlier.

In Jul-21, Plutus Wealth Management LLP had acquired shares in Religare as part of a preferential issuance of shares.