Burman Family Takes Control of Religare Enterprises After Tepid Open Offer

The Burman family has officially become the promoter of Religare Enterprises Ltd (REL) following their open offer, which closed on February 13, 2025. Despite a lukewarm response, with only 0.07% of REL's outstanding paid-up share capital tendered, the Burmans have secured control of the financial services firm. This development marks a significant shift in REL's ownership structure, coming after months of regulatory scrutiny and management opposition. The change in control could potentially lead to a restructuring of REL's operations and strategy in the coming months.
Source: Based on information from BSE filings and recent financial news reports.