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Religare Enterprises Limited (REL) shares are likely to be in focus following the Burman family’s acquisition of a controlling stake
Religare Share Price
Religare Enterprises Limited (REL) shares are likely to be in focus following the Burman family’s acquisition of a controlling stake through the successful completion of the open offer. The family now holds 83,201,819 equity shares, representing 25.16% of the company’s total shareholding.
In a filing with the exchange, it was revealed that following the completion of the open offer on February 17, 2025, under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the Burman family acquired 231,025 equity shares, representing 0.07% of Religare Enterprises’ total paid-up share capital. Additionally, as part of the open offer, the family had previously acquired 13,200,000 equity shares on January 31, 2024, amounting to 3.99% of the paid-up capital. These shares were transferred from an escrow demat account to the Burman family’s account on February 18, 2025.
The Burman family had made an open offer to acquire up to 9 crore equity shares, or 26% of Religare, from public shareholders. The acquisition was conducted through entities owned by the family, including M.B. Finmart Private Limited (MFPL), Puran Associates Private Limited (PAPL), VIC Enterprises Private Limited (VIC), and Milky Investment & Trading Company (MITC).
A spokesperson for the Burman family stated that their main goal is to bring stability, enhance governance, and drive sustainable growth at Religare, according to a Reuters report.
The Burman family, which founded and still controls Dabur India, received approval from the Reserve Bank of India (RBI) in December to increase their stake in Religare.
On Thursday, Religare’s shares fell 2%, closing at Rs 223.
