Dabur promoter Burman family announces Rs 2,116 cr open offer for 26% stake in Religare
The open offer is made with the intention to increase the family's stake and take control of REL. Post offer the family's stake in Religare is expected to increase from about 21 per cent at present to 51 per cent.
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced Rs 2,116 crore open offer to the shareholders of Religare Enterprises Limited (REL) to acquire up to 26 per cent stake in the company. (File image) Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced Rs 2,116 crore open offer to the shareholders of Religare Enterprises Limited (REL) to acquire up to 26 per cent stake in the company.
The open offer is made with the intention to increase the family’s stake and take control of REL. Post offer the family’s stake in the financial services firm is expected to increase from about 21 per cent at present to 51 per cent.
MB Finmart Private Ltd (Acquirer 1), Puran Associates Private Ltd (Acquirer 2), VIC Enterprises Private Ltd (Acquirer 3), and Milky Investment & Trading Company (Acquirer 4) have announced an open offer for acquisition of up to 90,042,541 fully paid-up equity shares of face value of Rs 10 each from the public shareholders of the company representing 26 per cent of the expanded voting share capital of the firm, at a price of Rs 235 per unit, REL said in a regulatory filing.
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