The Burman family has acquired a controlling stake in Religare Enterprises Limited (REL) after the completion of the open offer where it bought 83,201,819 equity shares representing 25.16%.
The Burmans had made an open offer for acquisition of up to 9 crore equity shares representing 26% of REL’s stake from public shareholders. The acquisition has been made through Burman family owned entities M.B. Finmart Private Limited (MFPL), Puran Associates Private Limited (PAPL), VIC Enterprises Private Limited (VIC), and Milky Investment & Trading Company (MITC).
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