Religare Securities infuses Rs35 cr in fund arm

Religare Securities infuses Rs35 cr in fund arm
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First Published: Tue, Jul 14 2009. 01 50 PM IST
Updated: Tue, Jul 14 2009. 01 50 PM IST
Mumbai: Religare Mutual Fund said on Tuesday promoter Religare Securities has infused Rs35 crore in equity capital to fund expansion.
The new capital will be utilised for expanding existing business operations, setting up new infrastructure and investing in new business opportunities, it said in a statement.
This is in addition to the Rs37 crore it infused in December last year, the fund added.
Religare AMC is promoted by Religare Securities, a unit of Religare Enterprises .
The AMC has broken even operationally for the last two months, Saurabh Nanavati, chief executive officer of Religare Mutual Fund said at a fund launch.
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First Published: Tue, Jul 14 2009. 01 50 PM IST