On August 16, the Burmans of Dabur are believed to have secured an additional 5 percent stake in Religare Enterprises, taking their ownership up from 14 percent as of June.
According to a report by Moneycontrol, it is understood that the Burman family increased their ownership in Religare Enterprises through a block deal on August 16, thereby raising their stake in the company from the previously held 14 percent as of June.
The Burman family holds the controlling stake in the ayurvedic brand Dabur, while owns the 14 percent-plus stake in Religare through several entities.
Religare Enterprises, a subsidiary of Religare Finvest (RFL), aims to raise Rs 800 crore through a qualified institutional placement (QIP) following its successful one-time settlement (OTS) with lenders of Religare Finvest Ltd. The company has paid off the OTS amount and closed the deal with 16 lenders by making a final payment of Rs 400 crore in March this year.
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