Religare splits into two listed companies, financial services and insurance, by early FY28.

Religare Enterprises has approved a major restructuring to split its financial services and insurance businesses into two independently listed companies, marking its first significant change since the Burman family took control in February 2025. The financial services unit will be transferred to Religare Finvest Ltd (RFL), which will issue shares to existing shareholders on a 1:1 basis. The demerger, to be completed by the first quarter of FY28, aims to unlock value, improve focus, and enhance governance. Care Health Insurance will remain under Religare’s ownership. The process, subject to regulatory and shareholder approvals, will proceed without disrupting operations.