Religare Enterprises(REL) is considering an initial public offer (IPO) of up to ₹2,000 crores for its health insurance subordinate Care Health Insurance and planning to issue fresh shares, market insiders said.

Management of REL is in discussions with investment banks for the proposed listing of the shares of Care Health and also the IPO may be launched around the end of this fiscal, they said.

“REL top management has been in discussions with multiple investment banks. Some of them have already made presentations but the final decision of appointing the investment banks is yet to be taken,” said one of the sources from the investment banking industry. “The issue, which is expected to be around ₹2,000 crores, is likely to be launched later this year or early next year,” he said.