The Competition Commission of India approves the acquisition of a 5.27% stake in Religare Enterprises by entities controlled by the Burman family, along with a subsequent open offer for an additional 26% stake.
RBI asks Religare to submit fresh application for stake transfer of RHDFCL thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Burman s family had, through various entities, accumulated a 21.5% stake in REL by August. In September, it bought another 5.27% stake, triggering a mandatory open offer to buy an extra 26% stake from the public. The open offer was made at ₹235 on September 25, when the prevailing stock price was ₹256.
Burmans in all-out tussle for control of Religare - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.