The Burman household has acquired a controlling stake in Religare Enterprises Restricted (REL) after the completion of the open supply the place it purchased 83,201,819 fairness shares representing 25.16%.
The Burmans had made an open supply for acquisition of as much as 9 crore fairness shares representing 26% of REL’s stake from public shareholders. The acquisition has been made by Burman household owned entities M.B. Finmart Non-public Restricted (MFPL), Puran Associates Non-public Restricted (PAPL), VIC Enterprises Non-public Restricted (VIC), and Milky Funding & Buying and selling Firm (MITC).
After the acquisition of shares, their holding in REL is now above 50%. Previous to the open supply by the Burman household, they had been already the largest shareholders in Religare with 25.1% holding.
