THE LONG, ARDUOUS battle between the Burman family, owners of consumer goods major Dabur India, and the management of Religare Enterprises reads like the plot of a book or TV show. A corporate takeover bid that is opposed by the management, with multiple twists and turns, replete with allegations and counter allegations, and even a rival takeover bid from a foreign investor.
The nearly 18-month-long saga since the Burman family made a ₹2,116-crore open offer for 26% of Religare shares to take their holding beyond the 50% mark seems to have come to a conclusion. On February 20, the Burman Group announced it had acquired control of Religare and had been designated as the promoter of the company.
The offer was triggered automatically after the Burman family had incrementally increased its shareholding in the company over the years to 25%.
With the Burman family finally in the driver's seat at Religare—which has four businesses: health insurance, SME lending, capital market broking and affordable housing finance—it is looking to act quickly to put the past behind it and grow the company.
Esta historia es de la edición March 16, 2025 de Business Today India.
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Esta historia es de la edición March 16, 2025 de Business Today India.
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