Religare Ent shares spring up 9% after Burman family gains controlling stake

Religare Enterprises shares are down 13% year-to-date.

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26 Aug, 2025 12:21

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Shares of Religare Enterprises climbed over 9 percent on February 21 after the Burman family acquired majority control of the company and were designated as its promoters.

This comes after the Rs 2,116 crore open offer issued by the Burmans' for the acquisition of additional 26 percent stake in Religare Enterprises received tepid response.  As per the data of open offer, against 26 percent stake on offer, only 0.07 percent equity was tendered.

Despite the subdued open offer, the Burman Group's ownership in Religare Enterprises stood at 25.16 percent.

“We are pleased to announce that we have acquired control of Religare Enterprises  and been designated as its promoters. We are grateful to our regulators, shareholders and other stakeholders for their trust and confidence," the group's spokesperson said in a media statement.

The group highlighted its top priority as establishing stability, enhancing governance, and fostering sustainable growth within the company. "Our vision for REL is anchored in governance, trust, and integrity, guiding us towards a future built on resilience and maximising stakeholder value," said a group spokesperson.

At 09.34 am, shares of Religare Enterprises were trading at Rs 239.09 on the NSE.

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The Burmans, through four entities, Finmart Pvt Ltd, Puran Associates Pvt Ltd, VIC Enterprises Pvt Ltd, and Milky Investment & Trading Company, held a 20.15 percent stake in Religare Enterprises.

In September 2023, the Burman family, promoters of Dabur India and other entities like Eveready Industries, announced a Rs 2,116 crore open offer to REL shareholders to acquire up to 26 percent stake in the company.

In January 2024, four entities further purchased a 3.6 percent stake in the company for Rs 277 crore through open market transactions. The shares were acquired by three of the Burman family's entities—Puran Associates, VIC Enterprises, and M B Finmart.

Looking ahead, the conglomerate stated that it will collaborate with Religare’s leadership and board to strengthen its strategic direction and drive long-term value creation.

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