The Burman 20 Group announced that it took control of the Financial Services based in Dilli Religare Enterprises Limited (REN) and was named for its promoters. The company emphasized its primary focus on supporting stability, increasing management and support of sustainable growth within the organization.
“We are pleased to announce that we have gained control of the Religare Enterprises Limited (REN) and we were marked as its promoters. We are grateful to our regulatory bodies, shareholders and other participating parties for their trust and trust, ”the group said in an official statement.
The Burman Group will cooperate with the management and the Board of Directors to strengthen its strategic vision and increase the growth of sustainable value.
“We have always invested in businesses with strong foundations and high growth potential and we will use the same disciplined approach to religions with the highest level of management. He committed to it, ”the spokesman added.
Burmans extended the open offer of 2,116 Crore RS to gain another 26 % stake in the Enterprises LTD (REL). However, the reaction to this offer was minimal, with only 231,025 shares (0.07 %) offered from 9 available shares (26 %). It manages to reaction to the open offer of Burmans indicates the lack of enthusiasm of shareholders.
The open offer, which was up to 9.00.42 541 fully repaid stock shares with a nominal value of R 10, representing 26 % of the extended share capital of voting from public shareholders, started from MB FINMART PVT LTD, Puran Associates PVT LTD, VIC Enterprises pvt ltd and Milky Investment & Trading Company 27 January 2025.
After the open offer of 13 February, the date set for payment of the 17th February, according to the data provided.
In September 2023, Burman family, promoter Dubborn India and other entities such as Eveady Industries have announced an open range of RS 2 116-Crore for Rel to gain up to 26 % of society.
Then, in January 2024, four entities purchased a 3.6 % share in Religare Enterprises for RS 277 Crore through free market transactions. The Puran Associates, Vic Enterprises and MB Finmart, all Burman's entities have received shares in the Religare Enterprises.
Puran Associates, owned by Anand Burman and Minnie Burman, ownership of VC Burman in the field of VIC Enterprises, and ownership of MB Finmart Mohit Burman show the constant interest of the family in diversifying their investment in the financial services sectors.
