Religare

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Religare Enterprises Limited (REL)
Public
Traded as
Industry NBFC
Headquarters New Delhi, India,New Delhi
Key people
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Services
Subsidiaries
  • SME Finance - Religare Finvest Limited (RFL)
  • Retail Broking - Religare Securities Ltd (RSL)
  • Capital Markets - Religare Capital Markets Ltd (RCML)
  • Wealth Management - Religare Wealth Management Ltd (RPW)
  • India AMC- Religare Invesco Asset Management Company(RIAMC)
  • Global AMC - Religare Global Asset Management (RGAM)
  • Health Insurance - Religare Health Insurance Company Limited (RHICL)
Website www.religare.com

Religare Enterprises Limited (REL) is the holding company for one of India's leading diversified financial services groups, headquartered in New Delhi, India. It offers an integrated suite of financial services through its underlying subsidiaries and operating entities, includes Loans to Small and Medium Enterprises (SME)'s, Capital Markets, Wealth Management, Health insurance and Asset Management. It has one million clients in India and more than 1700 offices across India.[1] Religare also has offices in Hong Kong, Singapore, the United States, the United Kingdom, Australia, the Middle East and Sri Lanka.

History

Founded in 1984, initially Religare was a stock brokerage firm called Religare Securities Ltd (RSL) and was admitted to the National Stock Exchange (NSE) in 1994. In 2000, it secured membership of the Futures and Options segment of the NSE and also registered with National Securities Depository Limited (NSDL) as a depository participant.[2]

Religare Finvest, a group company, was founded in 2001 as a private non-banking financial institution. In 2002, RSL received registration as ‘Portfolio Manager’ from Securities and Exchange Board of India (SEBI). RSL registered with Central Depository Services Limited (CDSL) as a depository participant in 2003. It also became a stock broker at the Bombay Stock Exchange (BSE) in 2004. In the same year, Religare Commodities Ltd., a commodities broking company, started operations as a ‘trading cum clearing member’ at both the Multi Commodity Exchange (MCX) and the National Commodity and Derivatives Exchange (NCDEX).

An office was established in London in 2006. In 2006, RSL received registration as Merchant Banker in Category - I from SEBI. Religare announced a joint venture with Macquarie Bank Ltd. in October 2007 to expand its wealth management business. REL went public with an initial public offering (IPO) of its stock in November, 2007, which was oversubscribed 159 times.[3] The same year, RSL received membership of derivative segment of the BSE as trading-cum-clearing member. In 2007, Religare also entered into the Capital Markets business.

AEGON Religare, a life insurance joint venture between AEGON, Religare and Bennett, Coleman & company, launched its pan-India operations in 2008. Religare Asset Management Company was formed on the back of Religare’s acquisition of Lotus India AMC and received the final regulatory approval from SEBI to launch mutual fund business in India. Religare entered into the institutional equities business and Religare Global Asset Management formed, for international expansion.

In 2011, Religare Finvest successfully issued Non-convertible debentures (NCDs) worth Rs. 800 crore. In December 2011, Avigo Capital[4] and in January 2012, Jacob Ballas[5] invest in Religare Finvest Limited (RFL). In 2012 International Finance Corporation (IFC), an arm of World Bank Group invested in Religare.[6] Religare Health Insurance Company Limited (RHIC) started operations in the year 2012.[7] Union Bank of India and Corporation Bank tie up with Religare Health Insurance. In 2013 Religare bought Macquarie's stake in the wealth management business. In the same year the name of Religare Mutual Fund was changed to Religare Invesco Mutual Fund. In 2014 Religare announced acquiring a 26% stake in YourNest Angel Fund through its Global Asset Management arm (RGAM).[8]

Organization

Religare as a group has several portfolio companies that operate across four verticals and collectively covering various sub-verticals within financial services:

SME Finance

  • Religare Finvest Limited (RFL) is an NBFC that provides lending solutions to the SME sector. It has a book size of INR 120.9 billion or nearly USD 2 billion and a network of 25 branches, covering the major SME clusters across India.

Capital Markets & Wealth Management

  • Retail Broking: Religare Securities Limited (RSL), the broking arm of REL, offers services such as equity broking (cash and derivatives segments), currency futures and options broking and depository participant services. It is affiliated with the country's leading exchanges (NSE and BSE) and is a depository participant with NSDL and CDSL.
  • Capital Markets: Religare Capital Markets (RCM) is an Asia focused Institutional Equities and Investment Banking platform partnering emerging growth companies, recognized by clients and independent agencies alike for the quality of its research and execution.
  • Wealth Management: Religare Wealth Management Limited (earlier Religare Macquarie Wealth Management (RMWM), which was formed as a joint venture between Religare and Macquarie of Australia. In 2013 Religare acquired Macquarie's stake[9]) It has positioned itself as an open-architecture advisory-led model.

Asset Management

  • Global Asset Management: Religare Global Asset Management (RGAM) is a multi-boutique asset management business focused on alternatives. Landmark Partners, Quadria Capital, Northgate Capital, Investment Professionals Limited, Religare Health Trust, IBOF Investment Management, etc. are the affiliates of RGAM. With a presence across US, Europe and Asia and an aggregate AUM of USD $20 billion [10] it has emerged as the largest alternative asset management platform based out of India.
  • India Asset Management: Religare Invesco Asset Management Company Private Limited (RIAMCPL), the domestic asset management arm of Religare, is India’s 13th largest mutual fund house by AUM. With nearly 12 12,250,000 folios, it has a presence in 658 business locations across 155 cities.

Insurance

  • Health Insurance: Religare Health Insurance Company Limited (RHICL) is a specialist health insurer engaged in the distribution & servicing of health insurance products. The shareholders of Religare Health Insurance are three strong entities – Religare Enterprises Limited, Union Bank of India & Corporation Bank. The company, headquartered at Delhi, commenced operations in July 2012, and within a short span of time is already operating out of 54 offices, servicing more than 2,600,000 lives across 300+ locations including over 1100 corporates.
  • Life Insurance: AEGON Religare Life Insurance Company Limited (ARLI) is a three-way joint venture between AEGON of the Netherlands (26%), Religare (44%) and Bennett, Coleman & Company Limited (30%).

Awards

  • In 2008, Religare Enterprises Ltd received the award for ‘Best IPO Listing’ in the Outlook Money NDTV Profit Awards 2007-2008.
  • Religare Securities Ltd was awarded by D & B for the category "Best Broking House-with a Global Presence".[11]
  • In 2009, Religare Macquarie Private Wealth won the Private Banker International (PBI) Global Wealth Awards 2009 for the ‘Most Exciting New Wealth Management Model’.[12]
  • Religare received the 'Brand excellence Award' in the Banking and Financial services category at "The World Brand Congress 2009".[13]
  • Religare Enterprises Ltd received the Master Brand Award for 2010[14] and Best Marketing Campaign of the year at World Brand Congress 2010.[15]
  • In 2011, Religare Commodities Ltd was awarded the 'The Best Commodity Broker of the year' at the Bloomberg UTV's financial Leadership awards.[16]
  • In 2011, Religare Capital Markets Ltd, was awarded the coveted Starmine award for the "Best Brokerage Research House".[17]
  • In 2011, Religare Capital Markets was adjudged the ‘Most Improved Brokerage in the Last 12 Months’ by Asia Money Brokers Poll.
  • In 2012, Religare Securities Ltd was awarded the ‘Best Investor Education & Category Enhancement – Currency Broker’ award and Religare Commodities Limited was awarded the ‘Best Commodity Broker’ award at the Bloomberg UTV Financial Leadership Awards.[18][19]
  • In 2012, Religare Finvest Limited was awarded the Finnoviti 2012 award in the “Innovation in Process” category.[20]
  • In 2013, Religare Health Insurance Company was awarded the ‘Technology Innovation in Health Insurance Award’ at the ‘Indian Insurance Awards - 2013’.[21]
  • In 2013, 'The Indian Insurance Awards', awarded AEGON Religare Life Insurance (ARLI) as the ‘E-Business Leader’ under the category of Overall Insurance Industry Awards.[22]
  • In 2013, Religare Health Insurance Company was conferred the ‘Editor’s Choice Award’ by Finnoviti for ‘Innovation in Product- Care’.[23]
  • In 2013, Religare's online Investor Education Initiative www.smarterwithmoney.in was conferred with ‘The Futurist Marketing Hall of Fame Award’.[24]
  • In 2014, In the Indian Insurance Awards 2014, awarded AEGON Religare Life Insurance (ARLI) as the ‘E-Business Leader Award’ under the category of 'Overall Insurance Industry Awards'.[25]
  • In 2014, Religare Health Insurance was awarded the ‘Rising Star Insurer Award’ at the ‘India Insurance Awards 2014’.[26]
  • In 2014, Religare Invesco Asset Management Co. Pvt. Ltd. won the ‘Lipper Fund Award 2014’ for ‘the Best Fund in the Mid & the Small Cap-Growth Category’.
  • In 2015, Religare Commodities Ltd. was awarded the ‘ASSOCHAM Excellence Award 2015’ for outstanding contribution to Commodity Markets.
  • In 2015, Religare Health Insurance Co. Ltd. won the ‘Best Health Insurance Company Award’ - ABP News BFSI Awards 2015.[27]

References

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External links

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