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*