BAY CAPITAL TO MAKE HOSTILE BID FOR RELIGARE : TP 150

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Religare Enterprises has  seen few recent developments in last one month :

1) Promoter stepped aside to make way for one Mohnish Mukkar of ABG shipyard and Deccan chronicle  fame and new management took the over REL

2) Many employees under old management were sacked and being replaced with the people appointed by Mohnish Mukkar

3) These developments infuriated the stake holders of REL, which perceives these development is to dump the company and take out key assets such has Religare health Insurance and Religare securities

4) The stakeholders such as IDBI invoked 18%  shareholding ( pledged shares) and such holding got consolidated in three hands  through 3 bulk deals

5) Next move,  by Bay Capital founded by Punit Sarwagi holding 10%, is to move notice for EGM to eject Mr Lakshmi Kumaran and Mr Udeshi and appoint new directors. 

6) Shareholding of promoters has fallen  to 15%. *Battle Royale is expected on Religare* 

7) As per recent filings under SAST,  in last 2 months, over 35% shareholders likely to team up to eject the new appointees. 

8) Both sides has placed  its legal team for show down for check and mate. *Possibility of Open Offer which will spike share price further*

RACE TO ACQUIRE RELIGARE ENTERPRISE HOTS UP:TP 150

*India Horizon Fund and Bay Capital acquire 93lac shares*
_This is in addition to 1.79 Cr shares acquired by Resilient Growth Fund_
*Identity of industrialist for whom these shares have been bought should be known in few days*

*Housing Finance in Religare Ent Ltd*

Among various verticals of business, Religare Enterprise Ltd is also in HOUSING FINANCE (RHFL).
India based PE Institution is willing to *buy Housing Finance arm of Religare for consideration of Rs 800 crores*( valuation of HFC alone close to total mktcap of REL). However, with induction of new Board members, Housing Finance biz not being disposed off. Rather, REL likely to get large funds infusion in near future. These funds will be deployed to *expand housing finance biz in a BIG WAY*
Housing finance biz can be BIG trigger for rerating of stock

*_Buying strongly recommended as stock can be Rs 150 in 9 months_*

*SET FOR MAKEOVER:REL*

Religare Enterprise Ltd can regain its old glory as Malvinder Singh (promoter) steps down and

1) S Lakshmi Narayan *( Chairman of Shriram Transport finance)* takes over as Executive Chairman of REL. As per new Chairman, _intrinsic value of Religare brand is still strong, will strengthen financial Performance_

*TO RAISE CAPITAL IN REL AND ITS SUBSIDIARIES, STRATEGIC PARTNERSHIPS WITH COMPLIMENTARY BUSINESS*

2) Ms Udeshi has become independent director *(first woman Deputy Governor of RBI)*

NEW BOARD MEMBERS TO BE INDUCTED

*ABOVE DEVELOPMENTS POINT TO REL BEING TAKEN OVER BY NEW PROMOTER*

NEW PROMOTER SOON: RELIGARE ENTERPRISE LTD.                        *Resilient Growth Fund, Mauritius based FII buys 10%*(Religare Bulk deal
17841994*56.70 = Rs1011641059.80)

DOW TIMES EXCLUSIVE

RELIGARE ENTERPRISE LTD:TP 100+in 4 months

REL had few months back when share price was 230 had signed agreement to sell Health Insurance biz for 1300 Crores. However as per latest info, IRDA likely to reject this proposal as IRDA don't want insurance biz to Private Equity players ( as they will sell again once valuations become more steep). This will be big blessings in disguise for REL:
1) REL Health Insurance biz *has grown 60% so far in current year YoY and new valuation more than 2000 Cr*
2) In view of listing of many Insurance companies at mind-blowing multiple, valuation of REL health insurance biz will go up further. *_REL is 2nd biggest player in India in health insurance_*

3) New Board is determined to infuse new life in every vertical and health insurance biz can grow even more

*HFC in REL*

Among various verticals of business, Religare Enterprise Ltd is also in HOUSING FINANCE (RHFL).
India based PE Institution is willing to *buy Housing Finance arm of Religare for consideration of Rs 800 crores*( valuation of HFC alone close to total mktcap of REL).

*_Buying strongly recommended as stock can be Rs 100 in 4 months_*

*SET FOR MAKEOVER:REL*

Religare Enterprise Ltd can regain its old glory as Malvinder Singh (promoter) steps down and

1) S Lakshmi Narayan *( Chairman of Shriram Transport finance)* takes over as Executive Chairman of REL. As per new Chairman, _intrinsic value of Religare brand is still strong, will strengthen financial Performance_

*TO RAISE CAPITAL IN REL AND ITS SUBSIDIARIES, STRATEGIC PARTNERSHIPS WITH COMPLIMENTARY BUSINESS*

2) Ms Udeshi has become independent director *(first woman Deputy Governor of RBI)*

NEW BOARD MEMBERS TO BE INDUCTED

*ABOVE DEVELOPMENTS POINT TO REL BEING TAKEN OVER BY FOREIGN PE*

RELIGARE ENTERPRISE LTD

REL had signed agreement with True North ( formerly Value India Fund) to sell its Health Insurance business (RHI) for 1300 Crores. When this agreement was done, stock was trading at 230-240.

REL has several other assets. Again valuation of these assets MUCH MORE than its mktcap

TANFAC: FLOATING STOCK

94% of equity is concentrated in hands of top 25 shareholders. Hence, for practical purposes, floating stock is very low

_This Speciality Chemical co of Birla Group is MOST UNDERVALUED_

TP 450-500 in 2-3 years