Religare Enterprises

RBI okays Burman Family's open offer for Religare Enterprises; stock up 10%

Religare Enterprises share price hit a 52-week high of Rs 304.30 in the intraday trade, surging 25 per cent thus far in the month of December

Religare Enterprises Q2 results: Net profit jumps 70% to Rs 68 crore

Religare Enterprises on Tuesday reported a 70 per cent jump in consolidated net profit to Rs 68.49 crore for the second quarter ended September 2024. The financial services firm had a consolidated net profit of Rs 40.35 crore in the July-September quarter of 2023-24. Its total revenue stood at Rs 1,971 crore during the second quarter of the current fiscal year, up from Rs 1,586 crore in the corresponding period of the last year. In a regulatory filing, Religare Enterprises further said that its Group CFO Nitin Aggarwal will cease to be associated with the company with effect from the close of business hours on November 12, 2024. Shares of Religare Enterprises closed at Rs 245.95, down 1.24 per cent over its previous close on the BSE.

RBI turned down request to appoint ex-CBI official on board: Religare

In a notice to the stock exchanges, the company said Religare is currently an acquisition target, and an open offer was made by the Burman family (of Dabur group) on September 25 last year

Care Health Insurance shareholders approve Rashmi Saluja's reappointment

Kedaara Capital votes against Saluja's reappointment

Fate of Religare's open offer is with the regulators: Rashmi Saluja

Saluja discusses the Ingovern report, the uncertainties surrounding the open offer, and the company's future

InGovern raises concern over AGM delay; Religare calls report manipulative

Proxy advisory firm InGovern has raised concern over Religare Enterprises postponing its 40th annual general meeting "without any valid reason" and has sought a Sebi probe into the matter, but the company termed the report manipulative. The regulator may examine the decision-making processes that led to the delay, as well as the company's actions regarding share allotments and Employee Stock Ownership Plans (ESOPs), the advisory firm said in a report. Responding to the report, Religare Enterprises chairperson Rashmi Saluja said, "The report is manipulative in nature and is a malicious attempt to hurt the credibility of the company and its leadership. We are compliant with all laws and regulations and continue to uphold the sanctity of the High Court of Delhi, and hence will not be able to speak on matters which are sub-judice." "Short selling is becoming a trend to undermine the growing potential of Indian companies under different reasons and we would like really to understand the

Proxy advisory firm InGovern raises concern over Religare AGM delay

Certain institutional investors have expressed their discontent, suggesting that it may be a strategy to avoid a vote on Saluja's reappointment, the report added

ED conducts searches at Religare Enterprises executives' premises

The Burman family is the largest shareholder in REL and is currently embroiled in a conflict with the REL chairperson over a change of control at the financial firm

ED summons Dabur's Mohit Burman, others in Religare money laundering probe

Religare open offer case: Dabur Chairman Mohit Burman, three independent directors of Care Health Insurance and the manager of the open offer have been summoned by the Enforcement Directorate

Religare Enterprises sends Burmans' open offer plea to Sebi, RBI

The move follows directions passed last month by the Securities Appellate Tribunal and an order issued in June by Sebi against the management

Sebi orders Religare Enterprises to process Burman family's open offer

Co will have to apply for requisite approvals from RBI, Irdai, Sebi before July 12; Notices slapped on board for alleged breach of responsibilities

Sebi orders Religare Enterprises to apply for open offer before July 12

The Burman group acquired an additional 5.7% stake in REL in September last year triggering the open offer requirement as their stake surpassed the 26% threshold

All procedure followed for share sale, says REL Chairperson Rashmi Saluja

Refuting allegations by Burman family, Religare Enterprises Ltd (REL) Executive Chairperson Rashmi Saluja said the share sale by her was in accordance with procedure and approval of the board. Earlier this month, Burman Family, who are locked in a pitched battle with Religare Enterprises for the acquisition of the financial services firm, made fresh complaints against Saluja about insider trading violations. As per the disclosure on exchanges last month, Saluja sold 6.18 lakh shares on March 26, 6.70 lakh shares on March 27, and 7.21 lakh shares on March 28. Following the transaction, Saluja's holding in REL is reduced to 0.81 per cent from 1.23 per cent. "What I have read in the newspaper it is all unsubstantiated. The proposal was approved by the board and Nomination and Remuneration Committee (NRC). The board and independent members approved the proposal as per the regulation. So there has been no violation of regulation at all," she said. Burmans, who holds around 25 per cent o

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

Religare shares sluggish as open offer is delayed

Both Religare resolutions defeated by shareholders amid public spat

In a stock exchange filing, Religare said both resolutions have 'failed to pass with requisite majority as per Section 114(2) of the Act'

Religare Enterprises board, Burman family of Dabur spar over open offer

A spokesperson for Burmans said that the banking regulator has taken note of the non-cooperation by Religare and has directed Religare to make the necessary applications to the banking regulator

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CCI approval for stake buy does not give Burmans 'clean chit': Religare

Amid ongoing feud with the Burman family, Religare Enterprises on Wednesday claimed fair trade regulator CCI's approval for additional stake purchase by the Burman family entities does not "give a clean chit to the acquirers" with respect to certain alleged competition law violations. On Tuesday, the Competition Commission of India (CCI) approved the acquisition of 31.27 per cent of additional stake in Religare Enterprises by four entities of Dabur India promoter Burman family. The approval came against the backdrop of the intense feud between Religare Enterprises and the Burman family over taking control of the company. The release issued by the CCI regarding the stake purchase clearly stipulates that the "approval is without prejudice to the proceedings that may be initiated under Section 43A, 44 and/or 45 of the Competition Act, 2002", a Religare Enterprises spokesperson said. The spokesperson said it was in connection with the combination notice issued by the acquirers forming

Religare shares gain 4.6% after CCI approves Burman stake buy in company

Entities controlled by the family will need Sebi's approval to launch an open offer

Burmans' misleading information about chairperson far from truth: Religare

Religare Enterprises Ltd (REL) on Thursday launched an attack on Burmans saying recent misleading information shared in the public domain by them is not only far from the truth but can best be described as false claims without evidence. The Burman family on Wednesday called for an investigation into the allotment of an 8 per cent share of Religare Finvest Ltd to Religare Enterprises Chairman Rashmi Saluja through Employee Stock Ownership Plans (ESOPs). Terming the allotment "unfortunate," the Burman family, the largest shareholder of REL, in which it collectively owns 21.24 per cent through its entities, said the process "raises a question mark on the management and the independence of the independent directors" of the diversified financial services firm. In a rebuttal to Burman family allegations, the REL board and the independent directors, in a statement, said, "The recent misleading information shared in the public domain by the Burmans is not only far from the truth but can bes