Religare says board okays raising up to 5 bn rupees

Religare Enterprises said its board has approved raising upto 5 billion rupees through issue of redeemable preference shares, it said in a statement late yesterday.

Religare Enterprises said its board has approved raising upto 5 billion rupees through issue of redeemable preference shares, it said in a statement late on Thursday.

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The company has posted a net loss of 220.5 million rupees from 46.77 million rupees in the same period a year ago, it added.