News for Religare Enterprises Limited (RELIGARE.NS)

Equity indices Sensex and Nifty close lower due to auto stocks, foreign fund outflows, and weak US markets.

Stocks including Quality Power, M&M, NTPC Green, Tata Steel, Cipla, RVNL, Delta Corp, HG Infra and Berger Paints will be in the spotlight on Friday, February 21.

The Burman family has gained control over Religare Enterprises Limited (REL) by acquiring a 25.16% share following a successful open offer. The acquisition included 231,025 equity shares on February 17, 2025. The Burman family aims to enhance governance and drive sustainable growth at REL.

Samvardhana Motherson incorporated the arm 'Motherson Treasury Strategy' within the jurisdiction of Abu Dhabi Global Market, United Arab Emirates.

The Burman Group has acquired control of Religare Enterprises, following a prolonged battle that involved the New Delhi-based financial services firm's ousted chairperson Rashmi Saluja and US-based investor Danny Gaekwad.

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The apex court’s deadline to deposit ₹600 crore in an escrow account is by 2 PM.

US investor Digvijay 'Danny' Gaekwad seeks a meeting with PM Narendra Modi for a fair chance to acquire Religare Enterprises. Gaekwad plans to involve the American government for support and will deposit Rs 600 crore by the deadline, offering Rs 275 per share. He believes the company has huge potential compared to the competing offer of Rs 235 per share.

Religare stake acquisition: The Supreme Court was hearing two pleas—one filed by Florida-based Gaekward and the other by REL minority shareholders—seeking a stay on the companys 40th AGM scheduled for today.

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Burmans’ open offer for Religare is scheduled to commence from tomorrow.

U.S. investor Danny Gaekwad has made a competing open offer of ₹275 per share — a 17% premium over the Burmans' ₹235 offer

The independent directors of Religare Enterprises Ltd. have flagged concerns over the open offer for the company's stake by the Burman family. The ongoing open offer of Rs 235 per share, by M.B Finmart Pvt., Puran Associates Ltd. and VIC Enterprises Ltd. — entities owned by Burman family — is less than the closing market price of Rs 271 on Sept. 22, 2023, a day before the announcement of the offer.

The Burman family has announced dates for the takeover of Religare Enterprises Ltd. M.B. Finmart Pvt., Puran Associates Pvt., VIC Enterprises Pvt., and Milky Investment & Trading Co.— entities owned by the Burman family— have requested the NSE for usage of web-based bidding platform. The takeover offer will be open from Jan. 27 to Feb. 7. The issue will be of up to 9,00,42,541 equity shares, according to an exchange filing.

Court case to prolong the ongoing wrangle between the Burman family and Religare management

The GIFT Nifty was trading at 24,662.00 down by 21.5 points or 0.1% as of 7:26 a.m. Among others, share prices of HPCL, Vedanta, Religare Enterprises, and Wipro will remain in focus. Catch all the latest on Indian equities.

RBI approves Burman family's 26% stake acquisition in Religare, boosting shares by over 9% on bourses.

Mumbai's stock exchanges, BSE and NSE, have issued warning letters to Religare Enterprises for delaying the disclosure of the RBI's rejection of Rakesh Asthana's board appointment. The exchanges criticized REL for non-compliance with SEBI regulations and advised immediate corrective actions to prevent recurrence of such lapses.