Dabur?s Burman family controlled entities have made an open offer to acquire up to 26% stake in Religare Enterprises Limited (NSEI:RELIGARE) at INR 235 per share. The open offer would involve total consideration of INR 21.16 billion (assuming full acceptance). Currently, the Burman family holds 21.54% stake in REL.

The aggregate holding is expected to increase to 26.81% post planned additional stake buy of 5.27% at maximum price of INR 235 per share. Since their holding will go beyond 25%, the open offer is being made for additional 26%. The Burman family controlled entities that are now making the open offer and looking to take control of REL are MB Finmart Private Limited, Puran Associates Private Limited, VIC Enterprises Private Limited and Milky Investment & Trading Company.

On the acquisition proposal, Anand C Burman, Chairman Emeritus, Dabur India Limited, said, ?The proposed transaction is in line with our vision to create a leading financial services platform that encompasses lending, broking and health insurance services. We are convinced that REL is the right platform and positioned for sustained success. With our guidance, REL will continue its journey to being one of India?s distinguished financial services platforms?.