RBI approves Burman family entities’ open offer to acquire 26 pc additional stake in REL
New Delhi, Dec 10 The Reserve Bank has approved the open offer of Burman family -- the promoters of FMCG major Dabur -- to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd. The Reserve Bank of India 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 Ltd. "The acquirers are advised to consolidate the NBFCs in the resulting structure/ group at the earliest and not later than March 31, 2026," the RBI said in a letter to Chairman of Religare Enterprises, a copy which was shared to the exchanges. The Burman family -- a promoter of Dabur India and other entities such as Eveready Industries -- through its entities, had in September last year announced a ₹2,116-crore open offer to REL shareholders to acquire up to 26 per cent stake in the company. The Reserve Bank further said if after the open offer, Burmans' shareholding in the REL "falls below 26 per cent, prior approval of RBI will be required to increase the shareholding of the acquirers in the NBFC to 26 per cent or more".
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