India`s Burman family to raise stake in Religare via $255 million open offer
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The Burman family, which holds a controlling stake in Dabur, made an open offer on Monday for an additional 26% stake in financial services company Religare Enterprises for upto 21.16 billion rupees ($255.03 million), according to a stock exchange filing.
The Burmans already have more than 21% stake in Religare and now intend to take control of Religare once the open offer is concluded, the offer document showed.
The Burmans intend to acquire more than 90 million shares at 235 rupees per share, according to the document.
