Religare Enterprises Limited is one of the leading and most diversified financial organizations. The firm has its headquarters in New Delhi and operates across the country in mainly in the field of Small and Medium Enterprise (SME) Health Insurance, Capital Market, Wealth Management and Asset Management. Religare operates throughout the country through its subsidiaries and other operating entities and has approximately a million clients. The organization has 1700 offices in India and also has an international presence with its representative offices in Singapore, Hong Kong, US, UK, UAE, Srilanka and Australia.
The organization was formed in the year 1984, to operate as a stock brokerage organization known as Religare Securities Limited (RSL). The organization was registered in National Stock Exchange in the year1994. The organization also got registered in National Securities Depository Limited as a depository participant in the year 2000.
Another organization Religare Finvest was established in the year 2001 as a non banking financial organization in the year 20002. The registration as a Portfolio Manager was obtained from Securities and Exchange Board of India. The organization was registered in the year 2003 with Central Depository Services Limited as depositor participant. In the year 2004 the organization was enlisted as a stock broker in Bombay Stock Exchange. Later in the same Religare Commodities was formed and started trading and become a clearing member at Multi-Commodity Exchange and National Commodity & Derivatives Exchange.
RSL was set up its office in London in the year 2006 where it received its registration as a Merchant Banker from SEBI in Category –I. The organization expanded its wealth management business for good by signing a joint venture in October 2007 with Macquarie Bank Limited.REL formally made first initial public offering of its stock in November 2007. In 2007 itself the organization became a registered member of derivative segment of the Bombay Stock Exchange as a Trading as well as clearing member. In 2007 Religare stepped its foot into Capital Marketing.
Religare also started its insurance segment by signing a joint venture with Aegon and Bennet Coleman & Co. in the year 20008. It was in 2008 when the organization established its operations across India. Religare acquired Lotus India and thus established mutual fund business across India after obtaining due approval of SEBI.
Religare health Insurance Company Limited was established in the year 2012. The tie of the organization with Union Bank of India and Corporation Bank gave organization a boost. In 2013 the name of the organization was changed from Religare Mutual Fund to Religare Invesco Mutual Fund. In the year 2014 Religare acquired around 26% stake in YourNest Angel through its organization Religare Global Asset Management.
Religare functions through its various organizations that take care of diversified business areas some of which are enlisted below:
The organization handles SME finance through its organization known as Religare Finvest Limited (RFL). RFL is a Non Banking Financial Company that offers lending solutions to those in SME sector. The organization operated through 25 branches and has a book size of Rs.120.9 billion which amounts to 1.8 billion US dollars.
Capital Markets and Wealth Management
• Retail Broking: The organization offers retail brokerage through its organization named “Religare Securities Limited” (RSL). The organization offers equity broking, currency futures, options broking and depository participant services through RSL. The organization is enlisted and affiliated to both NSE and BSE and is depository participant with CDLS and NSDL.
• Capital Markets: The organization offers Institutional equities and investment banking through its organization Religare Capital Markets which operates across Asia. The organization partners with start-ups and emerging organisations.
• Wealth Management: The organization offers wealth management services through its firm Religare Wealth Management Limited which was earlier known as Religare Macquarie Wealth Management (RMWM). The organization was established as a joint venture of Religare and Macquarie of Australia.
• Global Asset Management: The organization caters to the area of global asset management through its organization Religare Global Asset Management (RGAM). Enlisted are a couple of affiliated of Religare Global Asset Management- Landmark Partners, Northgate Capital, Quadria Capital, Religare Health Trust, Investment Professionals Limited, IBOF Investment Management, etc. RGAM has a rich international presence across Asia, Europe and US.
• India Asset Management: The organization offers asset management services through Religare Invesco Asset Management Company Private Limited (RIAMCPL). RIAMCPL is the thirteenth largest Mutual Fund house by AUM in the country. The organization has around 12 12,250,000 folios with its presence across 658 business locations spread over 155 cities in India.Insurance
• Health Insurance: Religare has independent health insurance company known as Religare health Insurance Company Limited (RHICL). The company was formed in July 2012. Headquartered in New Delhi the organization operates across the country through 54 offices that have served 2600000 people from 300 different locations in India including around 1100 corporates. RHICL holds an expertise in health insurance and offers reliable and customer centric insurance products. Religare Enterprises Limited, Union Bank of India and Corporation Bank are the share holders of RHICL.
• Life Insurance: the company offers its life insurance products through AEGON Religare Life Insurance Company Limited (ARLI). ARLI is a joint venture between three organizations namely:
1. Religare (44%)
2. Bennett and Coleman & Company Limited (30%)
3. AEGON, Netherlands (26%)