The Securities and Exchange Board of India (SEBI) has approved the plea of Religare Enterprises Ltd to acquire the asset management joint venture, Lotus India AMC. Indian financial services firm announced that its wholly owned unit Religare Securities Ltd has been allowed to take hold of the entire stake of Lotus India AMC. Under the new acquisition, Lotus India AMC will be renamed as Religare AMC. A joint venture between Temasek Holdings unit and London-based Sabre Capital Worldwide, Lotus India AMC has more than Rs 50 billion rupees of funds under management.

 

Religare Enterprises Limited (REL) is one of the leading integrated financial services groups of India. The financial services of India, REL offers its services across 460 cities and towns. It has its global operations across 10 countries of the world. Religare operates its Life Insurance business in partnership with the Aegon which is a Dutch insurer. Apart from it, the firm enjoys partnership with an

Australia based financial services major called Macquarie which assist it in wealth management business.

 

The financial services of REL are divied into three spectrums such as the retail, institutional and wealth. The company is focused on offering world class services to its consumers and emerge as a globally trusted brand. The recent acquisition of the asset management company will help REL to fulfill its goals and consolidate its position as far as financial services are concerned.