The open offer was triggered after the four Burman family entities -MB Finmart, Puran Associates, VIC Enterprises and Milky Investment & Trading-placed an order to buy 5.27% or 17.32 million shares. Earlier, they held 21% in the company.
The open offer has been made for ₹90 million shares at a price of ₹235 per share and the family will spend up to ₹2,116 crore in cash.
If the offer is successful, the Burmans will hold a controlling stake of over 51% in the company on the expanded capital.
Following the announcement, shares of Religare Enterprises closed nearly 7% down on the National Stock Exchange, as the offer price was at a 13% discount to the stock's last closing price of ₹271.55.
Bu hikaye Financial Express Mumbai dergisinin September 26, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin September 26, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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