ReligareEnterprises Ltd. incorporated two new subsidiaries as part its planto simplify its corporate structure.
Religare Broking Ltd. and Religare Insurance Ltd. were incorporatedon July 20 and July 21, respectively, under Religare Capital Markets (India)Ltd., which is a subsidiary of Religare Enterprises.
The restructuring plan, which was unveiled May 27, includesa proposed reorganization of the company's existing operating businesses —lending, health insurance and capital markets — into three separate listedentities. The announcement came after the company's decision to its asset managementbusinesses.
Religare Enterprises' lending, health insurance and capitalmarkets businesses are operated through Religare Finvest Ltd., andReligare SecuritiesLtd., respectively.