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