RHC Finance shelves plan to buy shares from Singh brothers

Religare Enterprises on Friday informed the exchanges that RHC Finance Pvt Ltd has not acquired any shares from Malvinder Mohan Singh and Shivinder Mohan Singh. Earlier, in a notice to the exchanges, REL said RHC Finance had proposed to buy 1.08 crore shares (6.04 per cent) from Malvinder Singh and 48.26 lakh shares (2.7 per cent) from Shivinder Singh between August 14 and October 31 through multiple tranches. Shares of REL closed at ₹44.30, down 3.6 per cent, on the BSE.