M&A

M&A

Burman Group invests Rs.407-Cr more in Religare; makes Rs.2,116-Cr open offer

Press Release   BSE Announcement   Business Line  

The Burman Group, promoters of FMCG firm Dabur, has made an open offer for an additional 26% stake in publicly listed financial services company Religare Enterprises for INR 2,116 crore (USD 255.03 million). The Burmans, who already hold a more than 21% stake in Religare, plan to acquire more than 90 million shares at INR 235 per share via the offer. The open offer follows the purchase of a 5.27% stake via the public market for INR 406.92 crore.