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Danny makes 3rd bid for Religare
Mint Mumbai
|February 04, 2025
Ramping up his efforts to get a shot at bidding for embattled conglomerate Religare Enterprises, India-born US investor Digvijay 'Danny' Gaekwad has sought a "special exemption" under the country's takeover code from India's markets regulator.
This comes after his initial counteroffer to the Burman family's open offer for Religare—first submitted on 24 January and revised on 26 January—was returned by the Securities and Exchange Board of India (Sebi) last week.
In Sebi's view, Gaekwad's offer did not conform to the regulator's exemption application rules under the takeover code.
Religare informed exchanges about Gaekwad's latest letter dated 1 February on Monday.
Gaekwad's attempts gain significance in light of Religare's upcoming AGM on Friday, 7 February.
Diese Geschichte stammt aus der February 04, 2025-Ausgabe von Mint Mumbai.
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