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Religare plans Rs.2,000-Cr IPO for health insurance arm Care

Economic Times  

Publicly listed Religare Enterprises (REL) is considering an initial public offer (IPO) of up to INR 2,000 crore for its health insurance subsidiary Care Health Insurance, where it plans to issue fresh shares. REL is in talks with investment banks for the proposed listing and the IPO may be launched around the end of this fiscal. REL owns an around 70% stake in the firm while Kedara Capital has around 18% stake.

From the Venture Intelligence PE-VC Deal Database: Between Feb-20 and Jun-20, Care Health (formerly Religare Health Insurance) had raised over $100-M from Kedaara Capital.