In October 2023, the Burman family made an open offer to acquire equity shares of Religare Enterprises from public shareholders at Rs 235 per share. However, in recent developments, Mr. Digvijay Gaekwad, on 24 January, had initially proposed an open offer for 26% of the outstanding shares in the company, at a price of Rs 275 per equity share, a 17% premium to the price offered by the Burmans. According to an exchange filing by Religare on Sunday, Gaekwad increased his offer to ask for a 55% stake in the company. Mr. Gaekwad's proposal has since faced doubts about its credibility, and as an American businessman, his proposal may encounter significant hurdles.
Our Founder and MD Mr. Shriram Subramanian’s views on this matter have been quoted in an article on Mint. Read the full article here: https://www.livemint.com/companies/danny-gaekwads-5-000-crore-counter-offer-to-buy-religare-may-hit-sebi-wall-11737886070897.html
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