|Face Value:||Rs 10 Per Equity Share|
Financial performance of Care Health (Rs crore)
|Profit After Tax (PAT)||-78.84||2.15||-16.25||56.92|
|Earnings per share (EPS)||-2||0.04||-0.30||0.87|
|Book value per share||3.60||4.25||4.64||6.39|
Care Health commenced business in 2012 and currently has three major shareholders – Religare Enterprises Limited, Union Bank of India and Corporation Bank. Care Health Insurance is servicing over 700 locations across the country with a network of 110 plus branches and 9,450 plus hospitals. It has a product bouquet of 18 products encompassing group, travel, and fixed benefits to serve varied customers. Care Health Insurance is marketed by a team behind the hospital chain known as Fortis Health Care.
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.