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Bhawesh
Be the change • 5m
As of February 20, 2025, the Burman family, known for their ownership of Dabur India, has acquired a controlling stake in Religare Enterprises Limited (REL), becoming its official promoters. Acquisition Details: Open Offer: In September 2023, the Burman family announced an open offer to acquire up to 26% of REL's shares from public shareholders, amounting to ₹2,116 crore. Stake Increase: Prior to the open offer, the Burmans held a 20.15% stake in REL. Post-acquisition, their shareholding increased to 25.16%, solidifying their position as the largest shareholders. Challenges Faced: Competing Offer: In January 2025, U.S. businessman Digvijay "Danny" Gaekwad proposed acquiring a 26% stake in REL at ₹275 per share, a 17% premium over the Burmans' offer. Immediate Priorities: This strategic move marks a significant development in India's financial services sector, with the Burman family aiming to enhance REL's operations and market position.
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