Religare Enterprises Share Price Falls Over 8% After RBI Declines Approval for Scheme of Arrangement

Religare Enterprises Limited (REL) has received a setback in its proposed corporate restructuring after the Reserve Bank of India (RBI) did not approve its application for the Scheme of Arrangement involving Religare Finvest Limited (RFL), as per the exchange filings. 

The company said it received the RBI's communication dated August 6, 2026, while RFL received a similar communication on August 7, 2026.  

Scheme Did Not Receive RBI Approval 

The proposed Scheme of Arrangement involved the transfer of the Demerged Undertaking of Religare Enterprises Limited to Religare Finvest Limited. 

According to the company, both REL and RFL had approached the RBI seeking its no-objection and prior approval for the proposal. After examining the applications, the central bank did not accede to the request.  

Previous Progress on the Proposal 

Before approaching the RBI, the restructuring proposal had already moved through other stages. 

The Board of Directors had approved the scheme on February 14, 2026, subject to the required approvals. Subsequently, the company received an observation letter carrying "no objection" from the National Stock Exchange of India and another with "no adverse observations" from BSE Limited, which was disclosed on July 7, 2026.  

Company to Engage with the Regulator 

Following the RBI's communication, REL and RFL said they will continue engaging with the regulator and provide any additional clarifications that may be required regarding the proposed restructuring.  

About Religare Enterprises 

Religare Enterprises Limited is a diversified financial services company with businesses across lending, health insurance, retail broking and other financial services through its subsidiaries and group companies. 

The company operates through multiple financial services platforms serving retail and institutional customers across India. 

Read More: Signature Global Q1 FY27 Results: Pre-Sales Rise 25% QoQ to ₹1,970 Crore, Revenue at ₹550 Crore! 

Religare Enterprises Share Price Performance  

As of 07 August 2026, at 1:22 PM, Religare Enterprises Limited share price was trading at ₹235.40 per share, reflecting a decline of 8.24% from the previous trading session. 

Conclusion 

The proposed transfer of REL's demerged undertaking to Religare Finvest has not moved forward after the RBI declined to grant the requested approval. The company has stated that it will remain engaged with the regulator while providing further clarifications on the proposed scheme.  

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