Religare Enterprises Posts Mixed Q4 Results with Revenue Growth and Profit Decline May 21, 2025
Religare Enterprises announced its Q4 consolidated financial results, showing a 9.3% year-over-year revenue increase to ₹20.28 billion. However, net profit declined by 20.8% to ₹990.6 million compared to the same quarter last year. The company reversed its performance from the previous quarter's loss of ₹430.8 million to a profit this quarter.
Religare Enterprises Withdraws NCLAT Appeal as Burman Family Gains Control
Religare Enterprises has withdrawn its appeal at the National Company Law Appellate Tribunal (NCLAT) against a Competition Commission of India (CCI) order. This decision follows the Burman Family's successful acquisition of a controlling stake exceeding 50% through an open offer. The ownership change has led to significant leadership changes, including the removal of Rashmi Saluja as a director and former executive chairperson.
26Feb 25
Religare Enterprises Reshuffles Board, Shuts Down Subsidiary Amid Strategic Changes
Religare Enterprises Limited (REL) has announced major changes to its board and operations. Four new Non-Executive Directors have been appointed, pending RBI and shareholder approval. The company is suspending operations of its subsidiary MIC Insurance Web Aggregator due to poor performance, writing off investments and loans. REL's board has also recommended removing Dr. Rashmi Saluja and Mr. Rakesh Asthaana from subsidiary boards and committees.
21Feb 25
Burman Family Takes Control of Religare Enterprises, Plans Capital Infusion and Rebranding
The Burman family has successfully acquired control of Religare Enterprises Limited (REL), becoming its new promoter. They plan to inject ₹2,000 crore through preferential shares, increase their stake to over 50%, and initiate a rebranding exercise. The acquisition process involved market purchases and an open offer, resulting in the Burman Group entities holding a 25.16% stake. The new promoters aim to strengthen governance and drive growth in REL's lending, health insurance, and retail broking businesses.
20Feb 25
Burman Group Takes Control of Religare Enterprises, Aims for Stability and Growth
The Burman Group has successfully acquired control of Religare Enterprises Limited (REL), becoming its new promoters with a 25.16% stake (83,201,819 shares). The acquisition, completed on February 18, 2025, involved an open offer and previous market purchases. The Group plans to focus on stability, governance, and growth for REL. This marks the end of a contentious corporate battle and signals a new chapter for the company in the Indian financial services sector.
20Feb 25
Burman Family's Open Offer for Religare Enterprises Sees Minimal Uptake
The Burman family's Rs 2,116-crore open offer for Religare Enterprises Limited (REL) closed with only 0.07% of shares tendered, falling short of the targeted 26% stake. The offer price was Rs 235 per share. The Burmans' shareholding increased marginally from 20.15% to 24.02%, far below their 51.15% target. Prior market purchases of 3.81% stake were made at Rs 233.98 per share. REL's Executive Chairperson Rashmi Saluja was recently ousted as director by shareholders.