Shares of financial services firm Religare Enterprises rose sharply by over 7 per cent today amid reports of possible takeover of the company.
Following the buzz, shares of the company went up by 7.25 per cent to Rs 340.20 on the BSE. On the NSE, it gained 6.77 per cent to Rs 342.
According to media reports, private equity groups Apollo Global Management and Baring Asia have emerged as the two frontrunners to take over Religare Enterprises.
Meanwhile, the BSE has sought clarification from Religare Enterprises with reference to the news that Apollo and Baring are ahead in race for Religare.
Total promoter holding in the company currently stands at 50.93 per cent, as per the March shareholding pattern.
In the broader market, the BSE Sensex was trading flat at 28,023.42 points.