Religare Enterprises disclosed that Ashish Dhawan acquired 38,00,000 shares through an open market purchase on August 28, 2026. The transaction increased his stake in the company.

The acquisition was made pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Dhawan is not part of the promoter or promoter group.

Holding Details

Before the transaction, Dhawan held 1,78,80,852 shares carrying voting rights, representing 5.24% of the total share capital. He also held 36,19,148 warrants and convertible securities, which accounted for 0.91% of the diluted share capital. His total pre-acquisition interest stood at 5.42% of the diluted voting capital.

The purchase added 1.11% to his holding in terms of total share capital and 0.96% to his diluted stake. Following the trade, his total shareholding reached 2,16,80,852 equity shares. The number of warrants remained unchanged at 36,19,148.

Capital Structure

Religare Enterprises has a total equity share capital of 34,12,33,742 shares. The total diluted share capital, assuming full conversion of outstanding convertible securities, stands at 39,68,19,811 shares. No shares were encumbered by the acquirer during this period.

Religare Enterprises has completed its subscription to a ₹100 crore rights issue in its wholly owned subsidiary, Religare Broking Limited (RBL). The parent company received allotment of 4,21,05,264 equity shares on August 21, 2026, following board approval granted on August 12, 2026.

The investment was executed at a face value of ₹10 per share with a premium of ₹13.75, bringing the total consideration to ₹100,00,00,020. As a Core Investment Company registered with the Reserve Bank of India, Religare Enterprises primarily engages in investing in and lending to group companies. This transaction qualifies as a related-party transaction but was conducted at arm's length, with the price offered uniformly to all shareholders.

Capital Allocation Strategy

RBL intends to utilize the proceeds from the rights issue for general business operations. Key areas of deployment include scaling up the margin trade financing (MTF) book and meeting working capital requirements. As a SEBI-registered stockbroker, RBL operates through 50 branches and approximately 1,100 business partners, serving 2.4 lakh active customers as on June 30, 2026.

Subsidiary Financial Profile

Religare Broking Limited, incorporated on July 20, 2016, reported stable turnover figures over the last three fiscal years. The turnover data reflects the effect of the Scheme of Arrangement approved by the National Company Law Tribunal on June 13, 2025, which transferred the E-Governance undertaking from RBL to Religare Digital Solutions Limited.

The acquisition is deemed complete as of August 24, 2026, when Religare Enterprises received the intimation of allotment. No additional governmental or regulatory approvals were required for this specific transaction.