Religare Enterprises Limited has released its Monitoring Agency Report for the quarter ended June 30, 2026, detailing the utilization of funds raised through a preferential issue. The report confirms that proceeds were utilized as per the offer document, including investments in subsidiaries and general corporate purposes. Notably, the company incurred expenses of ₹2.13 crore towards operating expenses for the quarter.
Monitoring Agency Report Highlights Fund Utilization
Religare Enterprises Limited (REL) has submitted its Monitoring Agency Report, prepared by CARE Ratings Limited, for the financial quarter ending June 30, 2026. The report outlines the progress and utilization of funds raised via a preferential issue, providing transparency on the company’s financial stewardship.
Investment and Borrowings Activity
During the quarter, REL made an investment of ₹95 crore in Care Health Insurance Limited (CHIL). Additionally, a new loan of ₹50 crore was sanctioned, with a tranche of ₹25 crore disbursed to RBL. In a separate development, an amount of ₹25 crore from a previous loan was prepaid by RBL in June 2026. The company also invested ₹5 crore in Religare Housing Development Finance Corporation Limited.
General Corporate Purpose Expenditure
For General Corporate Purposes (GCP), Religare Enterprises incurred expenses totaling ₹2.13 crore during the quarter ending June 30, 2026. These expenses covered various operating costs, including salaries and issue-related administrative vendor payments, which were debited from the company’s HDFC Current Account. The initial allocation for GCP was up to 25% of the issue proceeds.
Progress on Objects and Investments
The report confirms that the implementation of investment objects, including those in Care Health Insurance, Religare Broking, and Religare Housing Development Finance Corporation, is ongoing. The company has also deployed ₹19.92 crore into the Axis Money Market Fund, which earned ₹0.14 crore during the quarter, showing a market value of ₹20.06 crore at the quarter’s end.
Financial Performance and Future Outlook
While the report focuses on fund utilization, it notes that the company, on a standalone basis, reported losses in the last four quarters. The Board of REL has approved a scheme of arrangement to demerge its financial services business into Religare Finvest Limited, subject to regulatory approvals. The current market price of REL shares is noted as ₹257.
Source: BSE
