Share price of Religare Enterprises rallies post 25.16% stake acquisition by Burman Family

Market Performance

Religare Enterprises shares surged 8.5% on February 21, following the completion of the Burman family's acquisition of a controlling stake in the company. The stock reached a day's high of ₹242, though it remains 24% below its 52-week high of ₹319.90, recorded in December 2024.

Meanwhile, the stock has gained 20% from its 52-week low of ₹201, recorded in June 2024. Over the past year, the stock has declined 5%, with a 1% loss in February after over 13% decline in January 2025.

Acquisition Details

The Burman family has officially acquired control of Religare Enterprises Limited (REL), marking the conclusion of an 18-month-long takeover battle. With this acquisition, the family now holds 8.32 crore equity shares, accounting for 25.16% of the company's total paid-up capital.

Following the acquisition, the Burman family emphasized its commitment to stability, governance, and sustainable growth. A Burman group spokesperson statement highlighted that governance, trust, and integrity will be core principles as they steer REL towards resilience and stakeholder value maximization.

Open Offer Details

As per the regulatory filings, the open offer was completed on February 17, 2025, under SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. As part of this acquisition:

• The Burman family acquired 231,025 equity shares, representing 0.07% of REL's total paid-up share capital.
• They had previously purchased 1.32 crore equity shares on January 31, 2024, equivalent to 3.99% of the company's capital.
• These shares were transferred from an escrow demat account to the Burman family's account on February 18, 2025.

The Burman family initially launched an open offer to acquire up to 9 crore equity shares, equivalent to a 26% stake in REL, from public shareholders. The acquisition was carried out through multiple family-owned entities, including:

• M.B. Finmart Private Limited (MFPL)
• Puran Associates Private Limited (PAPL)
• VIC Enterprises Private Limited (VIC)
• Milky Investment & Trading Company (MITC)

Summary

The Burman family's acquisition of a controlling stake in Religare Enterprises marks the end of an 18-month-long takeover process. Following the announcement, the stock increased by 8.5%, though it remains below its 52-week high. The open offer, completed under SEBI regulations, has solidified the Burman family as the promoters of REL, with a focus on enhancing governance and long-term growth strategies.