Founded in 1982, initially Religare was a stock brokerage firm called Religare Securities Ltd and was admitted to the NationalStock Exchange in 1994. In 2000, it secured membership of the Futures and Options segment of the NSE and also registered with National Securities Depository Limited as a depository participant. Religare Finvest, a group company, was founded in 2001 as a private non-banking financial institution. In 2002, RSL received registration as ‘Portfolio Manager’ from Securities and Exchange Board of India. RSL registered with Central Depository Services Limited as a depository participant in 2003. It also became a stock broker at the Bombay Stock Exchange in 2004. In the same year, Religare Commodities Ltd., a commodities broking company, started operations as a ‘trading cum clearing member’ at both the Multi Commodity Exchange and the National Commodity and Derivatives Exchange. An office was established in London in 2006. In 2006, RSL received registration as Merchant Banker in Category - I from SEBI. Religare announced a joint venture with Macquarie Bank Ltd. in October 2007 to expand its wealth management business. REL went public with an initial public offering of its stock in November, 2007, which was oversubscribed 159 times. The same year, RSL received membership of derivative segment of the BSE as trading-cum-clearing member. Religare has been involved in a joint-venture life assurance business with AEGON and Bennett, Coleman & company. In 2011, Religare Finvest successfully issued non-convertible debentures worth Rs. 800 crore. In December 2011, Avigo Capital and in January 2012, Jacob Ballas invest in Religare Finvest Limited. In 2012 International Finance Corporation, an arm of World Bank Group, invested in Religare. Religare Health Insurance Company Limited started operations in 2012. Union Bank of India and Corporation Bank tie up with Religare Health Insurance. In 2013 Religare bought Macquarie's stake in the wealth management business. In the same year the name of Religare Mutual Fund was changed to Religare Invesco Mutual Fund. In 2014 Religare announced acquiring a 26% stake in YourNest Angel Fund through its Global Asset Management arm. Religare has exited its global asset management business. In February 2017, Anand Rathi Wealth Management acquired Religare's wealth management business. In April 2017, Religare announced that it had sold its stake to the True North a consortium of PE investors.
