Religare Health Insurance Pre IPO Unlisted Shares
Religare Health Insurance is health insurer
Religare Health Insurance Company is a specialist health insurer engaged in the distribution & servicing of health insurance products.
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Religare Health Insurance currently offers products in the retail segment for Health Insurance, Critical Illness, Personal Accident. It also offers top-up Coverage, International Travel Insurance and Maternity Insurance and Group Health Insurance and Group Personal Accident Insurance for corporates.
Face Value: Rs 10 Per Equity Share
ISIN: INE119J01011
In 2017, Malvinder and Shivinder Singh-promoted Religare Enterprises Limited (REL) has entered into a definitive agreement with a group of investors led by True North to sell its entire 80 percent stake in Religare Health Insurance Company Limited (RHI). The transaction valued RHI at Rs 1300 crore. However, the deal was not completed due to changes in terms by promoters.
Apart from True North, the other investors in the consortium were Gaurav Dalmia and Faering Capital. Faering Capital is founded by HDFC chairman Deepak Parekh's son Aditya Parekh and his investment banker friend Sameer Shroff. True North was established in 1999 with a focus on investing in mid-sized profitable businesses across diverse sectors. True North was formerly known as India Value. It has launched five separate investment funds with a combined corpus of over $2 billion.
There is considerable PE interest in such companies as evidenced by the purchase of True North in Max Bupa and Westbridge in Star Health. Religare Health Insurance Company Share Price is likely to go up as the company is planning its IPO soon.
In February 2019, the company has issued 93.26 lakh shares for expansion to various investors at Rs 34.31 per share, valuing the company at about Rs 2400 crore.
The investors include LKP Finance limited (72.86 lakh shares), Gland Celius Biochemicals Private Limited (14.57 laksh shares), Kaushal Agarwal (1.45 lakh shares), Sandeep Thapliyal (1.45 lakh shares), Arvind Bansal (1.45 lakh shares0, Swarnim Multiventures Pvt Limited (1.45 lakh shares).
In April 2019, ICICI Securities, one of India's leading financial products distributor, announced that it has partnered with Religare Health Insurance to distribute the latter's health insurance products. The products would be distributed on ICICI Securities platform I- Sec. Further, the company's 200+ retail outlets spread across the country would also be involved in distributing the products. This is the first pure-play health insurance company with which ICICI Securities have tied up.
Since its launch in July 2012, RHI is one of the standalone health insurers in the country. The organization has been adjudged the 'Best Health Insurance Company' at the ABP News-BFSI Awards & 'Claims Service Leader of the Year – Insurance India Summit & Awards. Religare Health Insurance has also received the 'Editor's Choice Award for Best Product Innovation' at Finnoviti. It was conferred the 'Best Medical Insurance Product Award' at The FICCI Healthcare Awards.