Epic Update : Religare Enterprises

Promoters to sell 22.75 percent stake in company to US based bank
Promoters stake sale to meet RBI norms for banking licence
Customers Bancorp of US picks 6.1 percent in company for USD 51 million
To issue USD 28 million warrant, USD 1 million shares to Customers Bancorp
Promoters to sell USD 22 million worth shares to Customers Bancorp
To also ink business alliance pact with Customers Bancorp.

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