Religare raises 2.29 bln rupees in equity fund

India's Religare Asset Management has raised 2.29 billion rupees in an equity fund that closed for initial subscription last month, the firm said.

India's Religare Asset Management has raised 2.29 billion rupees in an equity fund that closed for initial subscription last month, the firm said on Thursday.

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The money manager, an unit of financial services firm Religare Enterprises, collected money from about 37,000 investors across 170 cities, it said in a statement.