Religare hikes stake in Vistaar Religare Capital

Delhi-based financial services firm Religare Enterprises Ltd (REL) has hiked its stake in Vistaar Religare Capital Advisors Ltd (VRCAL), from 50% to 74% for an undisclosed amount. The joint venture between REL and film production company Vistaar Entertainment Ventures Pvt Ltd which manages a film fund with a corpus of Rs 200 crore, was formed last year. As a result of the transaction, VRCAL has now become a subsidiary of REL, a public listed holding company of various financial services businesses promoted by former Ranbaxy owners, Malvinder and Shivinder Singh.