Want proposed acquirers to be more responsible to Religare: Rashmi Saluja

Religare shares sluggish as open offer is delayed

Value unlocking by Religare Enterprises, which is engaged in a takeover battle with the Burman family, is stalled due to the “irresponsibility” of the acquirer, said Rashmi Saluja, the company’s chairperson.

“We want proposed acquirers to be more responsible towards other shareholders and help us unlock the value of the company. The management can’t help in getting a fit and proper tag from the regulator, and the ball is in their court,” Saluja said.

The Burman family, the promoters of the Dabur group, made an open offer in October last year to acquire an additional 26 per cent stake in Religare, and