Jun 26, 2013, 08.58 PM IST
CNBC-TV18 reports that Religare Enterprises has roped in US-based Customers Bancorp to partner in its banking foray by selling a 6.1-percent stake to Bancorp.
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Religare lures US firm for banking foray with 6.1% stake
CNBC-TV18 reports that Religare Enterprises has roped in US-based Customers Bancorp to partner in its banking foray by selling a 6.1-percent stake to Bancorp.
Like this story, share it with millions of investors on M3
Religare lures US firm for banking foray with 6.1% stake
CNBC-TV18 reports that Religare Enterprises has roped in US-based Customers Bancorp to partner in its banking foray by selling a 6.1-percent stake to Bancorp.
Also Read: Magma Fincorp to apply for a banking licence
This sale of stake is part of the drive by Religare's promoters to bring their stake down to 49 percent. The RBI guidelines mandate that promoter holding in any company seeking to set up a non-operative financial holding company to apply for a banking licence, at 49 percent. The RBI has given its consent to Customers Bancorp to pick up an over 6-percent stake in Religare.
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