Religare Enterprises Limited , a prominent player in the financial services sector, has announced the appointment of two senior management personnel, signaling a strategic move to bolster its leadership team.

New Appointments

The Board of Directors of Religare Enterprises Limited has approved the following appointments through a circular resolution on October 31, 2025:

Professional Backgrounds

Mr. Babu Rao P - Group General Counsel

Mr. Babu Rao P brings over 26 years of comprehensive experience to his new role as Group General Counsel. His expertise spans:

• Corporate, Banking & Finance, and Capital Markets
• Mergers & Acquisitions (M&A)
• Regulatory compliance
• Legal documentation
• Litigation Strategy

Prior to joining Religare, Mr. Rao held significant positions including:

• General Counsel and Executive Vice President at Bajaj Finance Ltd.
• Director & Deputy General Counsel – Legal at Citibank, N.A.

His career also includes roles at prestigious firms such as Amarchand & Mangaldas & Suresh A. Shroff & Co., HDFC Bank Ltd., and UTI Bank Ltd., among others.

Mr. Rao holds a Master's Degree in Commerce and Bachelor's Degrees in Law and Commerce from Osmania University, Hyderabad.

Mr. Indranil Choudhury - Group Chief Human Resource Officer

Mr. Indranil Choudhury joins Religare with over 26 years of experience in human resources management. His previous roles include:

• Group Head - HR & ESG at UTI Asset Management Company Ltd., where he led people initiatives, ESG, and subsidiary alignment at a group level.
• SVP & Head - Business HR at HDFC Life Insurance Company Limited.

Mr. Choudhury's educational background includes:

• PGDBA with specialization in Human Resource from NIILM, New Delhi
• Bachelor of Commerce from Utkal University, Bhubaneswar, Odisha

Implications for Religare Enterprises

These appointments underscore Religare Enterprises' commitment to strengthening its management team with experienced professionals. The addition of Mr. Rao and Mr. Choudhury is expected to bring valuable expertise in legal affairs and human resource management, respectively, potentially contributing to the company's strategic growth and operational efficiency.

As Religare Enterprises continues to navigate the dynamic financial services landscape, these leadership additions may play a crucial role in shaping the company's future direction and enhancing its competitive position in the market.

Religare Enterprises has unveiled plans to take its subsidiary, Care Health Insurance, public through a stock market listing. This strategic move aims to list the health insurance arm on stock exchanges, potentially opening up new avenues for growth and investment.

Valuation and Ownership

Care Health Insurance has been valued between ₹16,000.00 and ₹17,500.00 crores. Religare Enterprises currently holds a significant 62.80% stake in Care Health Insurance. It's worth noting that Religare Enterprises itself has a current market capitalization of ₹8,760.00 crores.

Listing Plans

Religare Enterprises is moving forward with the process of listing Care Health Insurance on stock exchanges. This decision marks a significant step for the company and its subsidiary in the competitive health insurance sector.

Potential Impact

The listing of Care Health Insurance could have several implications:

• Market Visibility: A public listing may increase the visibility of Care Health Insurance in the market.
• Capital Raising: The move could provide an opportunity for the company to raise capital for future growth and expansion.
• Investor Interest: The listing may attract new investors interested in the health insurance sector.

Industry Context

The health insurance industry in India has been growing rapidly, especially in the wake of the global pandemic. This listing plan by Religare Enterprises comes at a time when there's increased awareness and demand for health insurance products.

Recent Developments

In a recent development, Religare Enterprises allocated rights shares at ₹149.00 each in September. This move may be seen as part of the company's broader strategy leading up to the planned listing of Care Health Insurance.

While specific details about the listing process and timeline are yet to be disclosed, this announcement signals Religare Enterprises' confidence in its health insurance subsidiary and its potential for growth in the public market.

Investors and market watchers will likely keep a close eye on further developments regarding this listing, as it could potentially impact both Religare Enterprises and the broader insurance sector in India.