Religare gets SEBI clearance to acquire Lotus India AMC

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New Delhi, Nov 28 (UNI) Financial group Religare Enterprises Ltd today said its unit has received Securities and Exchange Board of India (SEBI) nod to acquire Lotus India Asset Management Company (AMC).

After the acquisition by the subsidiary Religare Securities, Lotus India AMC will be renamed Religare AMC, a statement said here.

''We will start the integration process immediately,'' Religare Enterprises CEO and MD Sunil Godhwani said.

''This is a first step towards fulfilling our global asset management ambitions and we are committed to take this business to market leading position,'' he added.

Lotus India AMC has more than Rs 5,000 crore of funds under management.

UNI MP SBA NS1616

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