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Religare Enterprises Limited (RELIGARE.BO)
| Previous close | 243.20 |
| Open | 244.20 |
| Bid | 242.60 x 0 |
| Ask | 242.80 x 0 |
| Day's range | 239.30 - 245.25 |
| 52-week range | 160.20 - 280.30 |
| Volume | |
| Avg. volume | 128,881 |
| Market cap | 80.13B |
| Beta (5Y monthly) | 0.55 |
| PE ratio (TTM) | 34.27 |
| EPS (TTM) | 7.08 |
| Earnings date | 06 Aug 2024 - 10 Aug 2024 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | 30 Mar 2010 |
| 1y target est | 385.00 |
ReutersIndia's Religare asked to seek regulatory nod for top investor raising stake
BENGALURU (Reuters) -India's markets regulator has asked Religare Enterprises to apply for approvals to let the billionaire Burman family buy more shares in the financial services company, dealing a blow to the company's attempt to block the move. The Burmans, who founded and control consumer goods conglomerate Dabur India, raised their stake in Religare to nearly 25% in September last year, triggering the so-called open offer requirement that allows them to buy more shares from public shareholders. However, Religare had sought to block the deal saying the open offer was "riddled with irregularities and statutory violations and cast serious doubts on the fit and proper status of the acquirers".
ReutersIndia's Religare asks police to probe allegations linked to previous leadership
Indian financial services company Religare Enterprises has asked police to start a fresh investigation related to alleged siphoning of funds and certain business dealings done under its previous leadership, a company letter shows. The news comes just weeks after India's billionaire Burman family, which founded consumer goods conglomerate Dabur, announced plans in September to raise its stake to take control of Religare by investing $255 million. Religare's former owners, brothers Malvinder Singh and Shivinder Singh, resigned from the board in 2018 and are among those who have faced many investigations for alleged siphoning of 45 billion rupees ($541 million) from Religare.
- Reuters
India's Burmans seek to boost financial services play with control of Religare
BENGALURU (Reuters) -India's billionaire Burman family said on Monday it would buy around 26% of Religare Enterprises for 21.16 billion rupees ($255 million), as it seeks to bolster its presence in the rapidly growing financial services sector. The Burmans, who founded consumer goods conglomerate Dabur India and are worth around $10 billion according to the Forbes India Rich List, are already the biggest single shareholder in Religare with around a 21% stake. The Burmans now want to "increase the family's stake and take control" of Religare, in a move that will pit them against other billionaire families in the same business, including Mukesh Ambani's Jio Financial Services and family-controlled Bajaj Finance.
