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RBI approves Burmans' open offer for 26% additional stake in REL
Mint Mumbai
|December 11, 2024
Burman family entities' offer has been contested by REL independent directors, alleging fraud and other breaches
The Reserve Bank of India (RBI) has approved the open offer of Burman family—the promoters of FMCG major Dabur—to acquire an additional 26% stake in non-banking financial company (NBFC) Religare Enterprises Ltd (REL).
The central bank also directed maintaining of the current board/management structure of REL.
The RBI said it has granted its "approval for the proposed increase in shareholding of existing shareholders"—four Burman family entities Puran Associates, VIC Enterprises, M. B. Finmart, and Milky Investment & Trading Company—in Religare Enterprises.
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