World Bank arm, International Finance Corporation (IFC) has invested $75 million (Rs.400 crore) in Religare Enterprises, the holding company of the Religare Group to acquire 8 per cent stake in Religare Enterprises.
AZB & Partners advised Religare Enterprises with a team led by Partners Vinati Kastia and Anil Kasturi along with Senior Associates Satyajit Gupta and Himanshu Rai.
Amarchand Mangaldas advised IFC with a team led by Partner Ravindra Bandhakavi.
IFC had also invested $25 million earlier this year in Super Religare Laboratories, the diagnostics business promoted by the Singh brothers. IFC was advised by AZB & Partners while SRL was advised by Vaish Associates.
Religare Enterprises is diversified financial services groups offering an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management, reports Dealcurry.
Recently, Religare Enterprises has sold 49 per cent of its stake in Religare Asset Management Company (RAMC) to Invesco Hong Kong, a subsidiary of Invesco Limited, which is a leading global asset management firm. Amarchand advised Religare while Invesco was advised by AZB & Partners.