Religare Enterprises share price in focus after Burman family gains controlling stake post open offer etmarkets

Shares of Religare Enterprises Limited (REL) will be in focus after the Burman family gained a controlling interest in the company following the successful completion of the open offer. Their current shareholding stands at 83,201,819 equity shares, or 25.16% of the total shares.

As a result of the Change of Control, the Burman family now assumes the role of Promoters of REL.

In a filing with the exchange, it was stated that after 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 the total paid-up share capital. Additionally, as part of the open offer, the family had earlier acquired 13,200,000 equity shares on January 31, 2024, accounting for 3.99% of the paid-up capital, which were transferred from an escrow demat account to the Burman family’s account on February 18, 2025.

The Burmans had previously made an open offer to acquire up to 9 crore equity shares, or 26% of REL, from public shareholders. This acquisition was carried out through entities owned by the Burman 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 family stated that their primary focus is to bring stability, enhance governance, and drive sustainable growth at the company, according to a Reuters report.

The Burman family, known for founding and controlling Dabur India, received approval from the Reserve Bank of India (RBI) in December to increase their shareholding in Religare.On Thursday, shares of the company dropped 2% to settle at Rs 223.