Religare Enterprises share price surged 8.52% to an intraday high of ₹242 on February 21, 2025, after the Burman family officially took control of the company. The stock was buzzing in trade as investors reacted positively to the news, marking the end of an 18-month takeover battle.
The Burman family, now the promoters of Religare Enterprises, acquired a 25.2% stake in the company. In a statement, they expressed gratitude to regulators, shareholders, and stakeholders for their support.
The takeover battle began in September 2023 when the Burmans, already holding a 25% stake, made an open offer to buy 26% more at ₹235 per share. However, Religare’s senior management, led by Chairperson Rashmi Saluja, opposed the offer, arguing that the valuation was too low.
The dispute escalated to various courts, including the Securities Appellate Tribunal (SAT). After receiving approvals from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) in December 2024, the Burmans launched their acquisition bid on January 27, 2025.
A counter-offer was made by Gaekwad, but he failed to deposit the necessary funds to back his bid. Eventually, a Supreme Court ruling on February 7 cleared the way for the Burmans to take full control of Religare Enterprises.
Religare Enterprises Limited (REL) is a diversified financial services group operating in three main sectors:
The company operates through various subsidiaries and affiliated entities.
Religare Enterprises has a market capitalisation of ₹7,780 crore, as per BSE data. As of 9:20 AM, the stock was trading 5.34% higher at ₹234.90, while the BSE Sensex was down 0.10% at 75,663.58.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 21, 2025, 10:02 AM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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