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Published: November 30, 2023
Updated: November 30, 2023
The Religare Enterprises board has rebelled against the open offer of Rs 235 a share by the Burman family and says the company is undervalued by the Burmans. The board thinks the company’s value is at least Rs 300 a share and the minority shareholders are not getting a fair deal. The directors have complained to market regulator SEBI against the open offer.
If insiders are to be believed, the Reserve Bank of India has still not given its no-objection certificate to SEBI to clear the open offer. IRDAI (Insurance Regulatory and Development Authority of India) too has not cleared the deal
In this scenario, it will be difficult for the Burmans of the Dabur family to go ahead with the transaction.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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