|Face Value:||Rs 10 Per Equity Share|
Financial performance of the company: (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|
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.
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).