Care Health Insurance Issues ₹100 Cr Subordinated Debt

Religare Enterprises Limited's material subsidiary, Care Health Insurance Limited (CHIL), has successfully allotted 10,000 unsecured, subordinated debentures worth ₹100 Crore. These debentures carry a fixed coupon rate of 10.00% per annum and will be listed on the National Stock Exchange of India Limited's Debt Segment. The issuance is in the nature of subordinated debt, in compliance with IRDAI and SEBI regulations. The debentures have a tenure of 10 years, with a maturity date of September 18, 2036, subject to potential call options after 5 years. Interest payments are annual, but subject to regulatory approvals and the company's financial health, with no cumulative interest payment.