Burmans' Religare open offer to acquire additional 26% stake to start on Jan 27

The Burman family's Religare Enterprises has announced an open offer to acquire an additional 26 percent stake from the open market, set to commence on January 27, pending regulatory approvals. Last month, the Reserve Bank approved this open offer by the Burman family, who are the promoters of FMCG giant Dabur, enabling them to acquire the additional stake in the non-banking financial company (NBFC) Religare Enterprises Ltd (REL).

The open offer seeks to purchase up to 9,00,42,541 fully paid-up equity shares with a face value of Rs 10 each. According to a regulatory filing, this represents 26 percent of REL's expanded voting share capital, which will be acquired from public shareholders by M.B. Finmart Private Ltd, Puran Associates Private Ltd, VIC Enterprises Private Ltd, and Milky Investment & Trading Company.​