Religare Enterprises Limited (REL) shares jumped 5% after the Burman family officially acquired control of the company, concluding an 18-month-long takeover battle. The Burman family, known for their strategic investments, now holds 8.32 crore equity shares, representing 25.16% of REL’s total paid-up capital.
With this acquisition, the Burman family has been designated as the official promoters of REL. In a statement, they expressed gratitude to regulators, shareholders, and stakeholders for their support. They also reaffirmed their commitment to steering REL towards sustainable growth and maximizing long-term value.
In a statement, the Burman family said, “We are grateful to our regulators, shareholders, and other stakeholders for their trust and confidence. Our immediate priority is to instil stability, strengthen governance, and drive sustainable growth at the company. Governance, trust, and integrity will remain at the heart of our vision as we steer Religare Enterprises towards a future defined by resilience and the maximisation of stakeholder value.”
The Burman Group, renowned for its disciplined investment approach, plans to collaborate closely with REL’s leadership and board. Their focus will be on redefining the company’s strategic direction while maintaining the highest standards of governance.
Religare Enterprises’ stock opened at ₹240, reaching a high of ₹244 and a low of ₹232.24. The stock remains below its 52-week high of ₹320 but above the 52-week low of ₹201.60.
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