Religare Enterprises, the New Delhi-based investment and financial services company's shares have wavered while continuing to be in the intraday trade on Friday.
Burman Family Takes Over Religare
This comes to pass after the company announced the official takeover of its affairs by the Burman family.
As a result of this development, the Burman family's shareholding in Religare Enterprises Limited (REL) stands at 25.16 per cent or 8.32 crore equity shares.
This announcement is the culmination of a year-and-a-half or 18 month-long process of takeover.
The company initially acquired 13,200,000 equity shares on January 31, 2024, amounting to 3.99 per cent.
As a result of this development, the Burman family's shareholding in Religare Enterprises Limited (REL) stands at 25.16 per cent or 8.32 crore equity shares. |
Change of Guard
In an exchange filing, the company said, "On February 17, 2025 in the Target Company by the Acquirers, we wish to intimate you that the Acquirers have acquired 231,025 Equity Shares, representing 0.07 per cent, of the outstanding paid up Share Capital as at the date (February 17.)
The company shares have wobbled while maintaining a green course. In the early hours of the day's trade on Friday, the company shares soared by over 8 per cent in the early hours of the day's trade. Ever since then, it has seen crests and troughs, with the gains dropping to 2 per cent.
Religare Shares
The company shares opened at Rs 240.00, higher than the previous day's closing of Rs 223.01 per share.
The series of ups and downs appear to be on the ascend for now, as, at the time of writing, the company shares surged, with the increase in value standing at 4.79 per cent or Rs 10.69.
This took the overall value of the company shares to Rs 233.70 per piece.
The company's 52-week high stands at 320.00 per share, with its 52-week low at Rs 201.60 per piece.
