Religare Enterprises Appoints Praveen Kumar Tripathi as Chairperson Effective From June 30, 2025

Religare Enterprises Ltd, a non-banking financial company, has appointed Praveen Kumar Tripathi, a Non-Executive Independent Director, as the Chairperson of the company until June 30, 2025. The board made this decision during its meeting on February 11, 2025.

Rotational Chairperson System

As per the resolution passed, the company has introduced a rotational system for its chairpersons, with each director holding the position for a calendar quarter. Tripathi will be the first to assume the role under this system.

The board will discuss the order in which other directors will take up the chairmanship in subsequent quarters.

Changes in Executive Leadership

On February 13, 2025, Religare Enterprises also announced that Rashmi Saluja had ceased to be the Executive Chairperson and Director of the company. This decision followed a shareholder vote at the company’s 40th Annual General Meeting (AGM) on February 7, 2025.

The reappointment of Dr. Rashmi Saluja as Executive Chairperson was part of the AGM agenda but was rejected by shareholders, with 97% of votes cast against the resolution, as per the scrutinizer’s report.

Burman Family’s Open Offer and Allegations

In September 2023, the Burman family, promoters of Dabur India and other entities, made a ₹2,116-crore open offer to acquire up to a 26% stake in Religare Enterprises. The open offer was followed by complaints filed by the Burmans with the capital market regulator Sebi, alleging insider trading violations by Rashmi Saluja and the appointment of a board of her choice.

These allegations were contested by REL’s independent directors, who raised concerns of fraud and other breaches by the Burman family’s entities. The matter is currently being reviewed by regulators, including Sebi, the RBI, and the Insurance Regulatory and Development Authority.

Stock Performance 

On February 14, 2025, Religare Enterprises share price traded 0.23% lower at ₹238.05 at 11:04 AM (IST). Religare Enterprises’s share price reached a 52-week high of ₹319.90, and a 52-week low of ₹201. As per BSE, the total traded volume for the stock stood at 0.22 lakh shares with a turnover of ₹53.28 lakhs.

At the current price, Religare Enterprises shares are trading at a price-to-earnings (P/E) ratio of -226.73x, based on its trailing 12-month earnings per share (EPS) of ₹-1.05, and a price-to-book (P/B) ratio of 3.73, according to exchange data.

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