Burman Family Of Dabur Bolsters Religare Holdings, Acquiring 5% More Stake

New Delhi, 16th August 2023: It is reported that on August 16, the Burman family, associated with Dabur, acquired an additional 5 per cent stake in Religare Enterprises. This move elevated their ownership from 14 per cent, which was the ownership level in June.

As per information from Moneycontrol, the Burman family accomplished this increase in their stake in Religare Enterprises through a block deal on August 16. This action led to their higher ownership stake in the company compared to the previously held 14 per cent ownership in June.

The Burman family, known for their control over the ayurvedic brand Dabur, also possesses a stake of more than 14 per cent in Religare through various entities.

Religare Enterprises, which operates as a subsidiary of Religare Finvest (RFL), has set its sights on generating Rs 800 crore via a qualified institutional placement (QIP) after its successful resolution with lenders of Religare Finvest Ltd through a one-time settlement (OTS). Earlier this year, in March, the company concluded the OTS agreement with 16 lenders by making a final payment of Rs 400 crore.