chennai religare finvest a subsidiary of religare group today said it is awaiting final approval from the insurance regulatory development authority irda to launch products under health insurance portfoliothe company has already obtained the approval for entering into the health insurance businesswe are already present in the health insurance business we are waiting for the final approval from irda for launching the products religare finvest chief operating officer pankaj bhansali told reporters here todaythe company is present in the health care industry under fortis brand it also lends to small and medium entities through religare finvest apart from other group entities he saidbhansali added that religare finvest has proposed to raise rs 800 crore through the issue of nonconvertible debentures ncdsthe issue opens tomorrow september 9 and closes on september 26 this is the first time we are raising funds through retail and also for nris nonresident indians he saidthe funds raised through the issue would be utilised for various activities including lending and investments and for capital expenditure and working capital requirements he saidthe lead managers to the issue are a k capital services axis bank yes bank and religare capital markets ltd