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

Burmans’ Religare Enterprises’ open offer to acquire an additional 26 per cent stake from the open market would commence on January 27 following the regulatory approvals. Last month, the Reserve Bank approved the open offer of the Burman family — the promoters of FMCG major Dabur — to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd (REL).

The open offer is for the acquisition of up to 9,00,42,541 fully paid-up equity shares of face value of Rs 10 each, representing 26 per cent of the expanded voting share capital of REL from the public shareholders by M.B. Finmart Private Ltd, Puran Associates Private Ltd, VIC Enterprises Private Ltd and Milky Investment & Trading Company, a regulatory filing said.

Source: ECONOMICTIMES