CHIL Allots ₹150 Cr Subordinated Debt Debentures

Religare Enterprises Limited (REL) announced that its material subsidiary, Care Health Insurance Limited (CHIL), has successfully allotted 15,000 unsecured, subordinated, listed, taxable, redeemable, non-convertible debentures aggregating to ₹150 Crore. These debentures carry a coupon rate of 10.50% per annum and have a tenure of 10 years, with a maturity date of October 30, 2036. The issuance is on a private placement basis and will be listed on the National Stock Exchange of India Limited. The allotment is subject to IRDAI laws, particularly concerning solvency margins and net loss, which may affect interest payments.