The stake sale in the health insurance arm comes at a time when Religare promoters Malvinder and Shivinder Singh are reported to be keen on divesting stakes in businesses controlled by them. Photo: Pradeep Gaur/MintMumbai: Religare Enterprises Ltd on Sunday announced the sale of its 80% stake in Religare Health Insurance Co. Ltd (RHI) to a group of investors led by True North. ALSO READ | Shivinder, Malvinder Singh want to sell some assets, but the timing isn’t rightReligare Health Insurance was launched in July 2012. “We have been closely evaluating the health insurance space and have been impressed by the quality of RHI’s management team and business. We believe that RHI would be an excellent platform for building an enduring health insurance franchise in India,” Vikram Nirula, partner at True North said in the statement.

Source: Mint April 09, 2017 16:07 UTC