Religare Health Insurance Company Limited Unlisted Share
(i) Religare Health Insurance (RHI), the health insurance arm of Religare Enterprises Limited (REL), is a specialized Health Insurer offering health insurance services to employees of corporates, individual customers and for financial inclusion as well. With RHI’s operating philosophy being based on the principal tenet of ‘consumer-centricity’, the company has consistently invested in the effective application of technology to deliver excellence in customer servicing, product innovation, and value-for-money services. Religare Health Insurance currently offers products in the retail segment for Health Insurance, Critical Illness, Personal Accident, Top-up Coverage, International Travel Insurance and Maternity along with Group Health Insurance and Group Personal Accident Insurance for corporates.
(ii) The organization has been adjudged the ‘Best Health Insurance Company’ at the ABP News-BFSI Awards & ‘Claims Service Leader of the Year – Insurance India Summit & Awards. Religare Health Insurance has also received the ‘Editor’s Choice Award for Best Product Innovation’ at Finnoviti and was conferred the ‘Best Medical Insurance Product Award’ at The FICCI Healthcare Awards.
(iii) Religare Health Insurance is marketed by a team behind the hospital chain known as Fortis Health Care. It is one of six standalone health insurers in India.
Factsheet of 2017:
a) GWP(Gross Written Premium) of ₹726 cr in FY17. YOY growth of 44%.
Definition: A written premium is an accounting term in the insurance industry used to describe the total amount customers are required to pay for insurance coverage on policies issued by a company during a specific period of time. Written premiums are the principal source of an insurance company’s revenues and appear on the top line of the income statement.
b) 5,089 hospitals in the provider network which was 4409 in FY15.
c) Multi-channel distribution including significant online presence.
d) Equity participation of ~5% each by Union Bank of India and Corporation Bank.
(iv) Big Announcement by ICICI Securities( 30 April 2019)
ICICI Securities, one of India’s leading financial products distributor, announced that it has partnered with Religare Health Insurance to distribute the latter’s health insurance products. The products would be distributed on ICICI Securities award-winning platform I- Sec. Further, the company’s 200+ retail outlets spread across the country would also be involved in distributing the products. This is the first pure-play health insurance company with which ICICI Securities have tied up.
(v) Valuation of the Company:
(a) In 2017, the Religare Enterprises who was holding 80% stakes planning to sell stake in Religare Health Insurance to a consortium of investors led by private equity fund True North Managers for an estimated Rs 1,040 crore. The estimated valuation at that time was around 1300 Cr. However, the deal didn’t go through as some changes were made at the last moment in the agreement by promoters. The case is currently under arbitration.
(b) Now in Feb-19, the company has issued 93,26,726 lakh shares for expansion to following investors at Rs. 34.31 valuing the company at ~2400 Cr.
1. Gland Celius Biochemicals Private Limited= 1,457, 301
2. Kaushal Agarwal = 1,45,730
3. Sandeep Thapliyal = 1,45,730
4. Arvind Bansal = 1,45,730
5. Swarnim Multiventures Pvt Limited = 1,45,730
6. LKP Finance limited = 72,86,505
(c) Total Outstanding shares as on 31.03.2019 are 69, 78,76, 614.
Religare Health Insurance Company Limited Unlisted Share Details:
|Total Available Shares:||500|
|Face Value:||₹ 10 Per Equity Share|
|Lot Size:||250 Shares|
|Current Unlisted Share Price:||₹ 45 Per Equity Share|