In a recent public notice, Religare Health Insurance Company Ltd said that private equity firm Kedaara Capital will invest Rs 400 crore ($56 million) in its business. Kedaara will acquire Rs 200 to buy Religare Enterprises’ stake in the health insurer and will invest an equal amount as fresh capital.
Anuj Gulati, managing director and CEO at Religare Health Insurance, said, “The transaction will enable the healthcare insurance unit to increase its investment in technology, distribution and service capability.”
Rashmi Saluja, non-executive chairperson at Religare Enterprises, said, “The deal will help strengthen its position in the financial services business and enable it to achieve its aim of becoming a debt-free company by June 2020.”
